Can Fringe Benefits Tax details be entered as an annual amount?

/Can Fringe Benefits Tax details be entered as an annual amount?

Can Fringe Benefits Tax details be entered as an annual amount?

In Australia, the Fringe Benefits Tax year runs from April 1 to March 31 each year.

FBT amounts can be acccumulated onto an employees masterfile by entering an FBT line on the standard pay or time sheet. Alternatively, you may wish to enter the annual amount of the benefit as one entry. Either method can be used within the Attaché payroll.

If you decide to enter an annual value, remember that the Check Pay date must be on or prior to March 31. Amounts entered with a check pay date of April 1 or later will be held on the employee masterfile record for the next FBT year.

FBT values held on the masterfile can be viewed through Employee Enquiry, Summary (F7), Itemise (F6), Employer Contributions. Current Year and Next Year dates and values are shown.

By |2017-12-06T12:22:19+00:00December 6th, 2017|0 Comments

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