Fringe benefit tax remuneration adjustment worksheet
About this worksheet
This worksheet will help you to manually calculate an FBT adjustment if the full remuneration or attributed income details for shareholder-employees, or those receiving attributed income, were unknown at the time of completing last year's fourth quarter or annual return.
Adobe Acrobat PDF | 188kb | 1 page
When to use this worksheet
If you used the 49% rate when completing last year's fourth quarter (IR420) or annual return (IR422) for shareholder-employees, where all remuneration or attributed income details were unknown, you must make an adjustment using the full multi-rate calculation.
What you will need
For each shareholder-employee:
- total attributed benefits provided last year
- last year's income
- the amount of FBT paid in last year's return.
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After you finish
- Copy the amount in Box F to Box 6 of the IR420 Fringe benefit quarterly return or Box 5 of the IR422 Fringe benefit tax annual return, or the eFBT quarterly or annual return if you are completing your return online.
- Don't forget to tick FBT to pay or FBT refund on your return.
