AGENTSanswers - 2003
Issue April Special Edition (electronic only) - 2003
File your FBT returns online with eFBT
The filing of FBT returns online through Inland Revenue's website will be made available to all taxpayers in June 2003 in time for filing FBT returns for the first quarter (1 April - 30 June). Prior to making this service available to all taxpayers we would like to trial this service with tax agents from late April 2003. This trial will be available for the fourth quarter, annual and income year FBT returns (you should have recently received annual and fourth quarter returns).
If you're interested in filing online with eFBT later this month please read on.
Brief description
The eFBT returns are electronic forms on Inland Revenue's website - currently accessible from the tax agents' page. They closely resemble the paper returns, but being electronic they can do the arithmetic for you so you don't have to complete so many boxes.
Further to making the returns available electronically, we have also developed online supporting schedules and calculators to assist in the calculations required. The schedules are simply designed for you to print and keep with your FBT records, our website does not store any of the data that you enter on the schedules, nor does it carry over totals from the schedules to the return itself.
The benefits to you:
- All the arithmetic in the schedules (except for the low interest loan schedule) takes place automatically, once you've entered the minimum information required.
- The eFBT return arrives at Inland Revenue the same day as you send it.
- You get a time-stamped receipt for the return as soon as you send it.
- The calculations are checked before you file.
- Any refund is paid earlier than if filing was paper-based, subject to normal audit checks.
How to file with eFBT
- Go to eFBT on our site at under "Get it done online | keyword | FBT."
- Fill in your client's name and IRD number, plus the 14-character DLN number that's computer-printed on the top of your client's paper return. (The client's name is optional, but if entered it will appear on the printed copy that you get at the end.) You will continue to receive paper returns so you have a new 14-character DLN number for filing next time.
- Fill in the last day of the quarter (or year) covered by the return e.g. 31/03/2003.
- Enter the taxable benefits provided. You need to break this down into fringe benefits which are liable for GST and fringe benefits which are not. There are separate boxes for these.
- If you are completing a quarterly return simply click on the "continue" button. You will then be asked to choose the rate you want to use. If completing the annual return, select the rate you are using and then click on the "continue" button.
- If you elect the multi-rate option, we will ask you to enter the fringe benefit tax to pay (if you elect the 64% option we will do the calculation for you). You then need to click on the "continue" button. Once all the information is complete you'll get a "Please confirm" page. Here you can either alter anything that needs correcting, or transmit the return to Inland Revenue.
- As soon as you transmit the return you'll get a receipt page showing the time/date of filing and all the information you entered. Please print this page, sign it, and keep it as part of your FBT records for audit purposes. This signed page becomes the FBT return for the purposes of the Tax Administration Act, so you don't need to fill out a paper return.
Paying any FBT owing
If there's FBT to pay and your client is a Westpac, ANZ or Kiwibank customer they can pay online at their websites. There is a link from the eFBT receipt page to these sites.
The other major banks in New Zealand (and some international banks) also have an internet banking or bill pay facility which you may be able to use. Please make sure sufficient details are supplied for us to correctly credit the payment to the account. See our booklet Making payments (IR584) to find out how to make these online payments correctly. You can find this under the Forms and Guides section of our website.
To pay by cheque just tear off the pay-in slip on the bottom of the paper return and post it with the cheque. Don't fill in the return - just send us the pay-in slip.
How we process eFBT returns
The details you send update to our computer system overnight without any manual intervention. From there the usual process will apply - you'll receive an assessment if we calculate a different result for any reason. Any refund will be paid either by direct credit or cheque based on the instructions we hold.
Feedback
We welcome your feedback, if you would like to comment about the schedules, returns or the process please email us at tax.agents@ird.govt.nz
Any problems?
The eFBT return is on the secure part of Inland Revenue's website, so your browser needs to support 128-bit encryption and recognise Inland Revenue's website as a trusted site. For more information see our Online services - if you can't get through page.
For other issues you can call us on the tax agents 0800 number between 8 am and 8 pm weekdays and 9 am and 1 pm Saturdays.
Date published: 19 Nov 2004
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