Fringe Benefit

Reportable fringe benefits amount is reported if the total taxable value of certain fringe benefits provided by the company exceeds $2,000 in an FBT year (1 April to 31 March). Employers are required to gross-up this amount and report income statement. The Grossed up value of both non-exempt and exempt employer fringe benefits appear on the income statement if greater than or equal to $3773.

The reportable fringe benefits amount (RFBA) shown on your income statement in myGov for an income year (1 July to 30 June) is the grossed-up taxable value of the reportable benefits provided in the previous FBT year (1 April to 31 March).

With the expanded STP report the Reportable Fringe Benefit amounts are now represent as STP codes:

Types of FBT grossed up values
A. Exempt ( X )
B. Non Exempt ( T )