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Online FBT income year return (IR421)

The following information supports the online FBT income year return. You can find this and all our other interactive forms at "Get it done online", "Work it out" and "Forms and guides".

Panel B - IRD number and DLN number

When you send your FBT return to us, we use the IRD number, DLN number and your balance date to:

  • put your return directly into our computer system
  • confirm that the person sending the return is authorised to do so.

If any of this information doesn't match with our records there will be a delay in processing the return and sending the assessment. We may need to phone you to ask which business and year the return was intended for.

If you don't have the DLN number, please call us on 0800 377 772.

Panel C - Your balance date

Your balance date determines the income year the return is for. See the following table to find your correct date:

If your balance date is ... that is ... then the balance date to enter on the return is* ...
October 1 November to 31 October 31 October
November 1 December to 30 November 30 November
December 1 January to 31 December 31 December
January 1 February to 31 January 31 January
February 1 March to 28 February 28 February
March 1 April to 31 March 31 March
April 1 May to 30 April 30 April
May 1 June to 31 May 31 May
June 1 July to 30 June 30 June
July 1 August to 31 July 31 July
August 1 September to 31 August 31 August
September 1 October to 30 September 30 September

* Enter the year date on the return, eg if your balance date is October, ie 1 November 2007 to 31 October 2008, the balance date to be entered on the return is 31 October 2008.

Is your income tax return filed by a tax agent?

If your income tax return is filed by a tax agent who has an extension of time to file it, click on the yes box. This will affect the return and payment due date. Where your income tax return is filed by a tax agent who has an extension of time to file it, you get an extra two months to file your income year FBT return.

Panel D - Taxable benefits for this period

In the first box enter the GST inclusive taxable value of all fringe benefits which are liable for GST (All benefits except financial services, loans, overseas travel).

In the second box enter the taxable value of all fringe benefits which are not liable for GST (Includes financial services, loans, overseas travel, life insurance polices).

Panel E - Which FBT rate are you using?

You have the option of using either the applicable single rate for the year of this return (this will populate depending on the period you entered at Panel C) or the alternate rate option. If you elect the alternate rate option you have the choice of the "full" alternate rate calculation process, or the "short form" alternate rate calculation process.

Full alternate rate calculation
  • You'll need to do a separate calculation for each employee who has received attributed benefits.
  • All attributed benefits are subject to the individual employee's personal tax rate.
  • All non-attributed benefits are subject to the single rate of 49% (or the applicable single rate for the period of this return (64%, 61% or 59%) where one or more of the recipients of the benefit is a major shareholder-employee). Two pools for the benefits may be necessary in this situation.

This option would appeal to employers who predominantly provide benefits to employees who earn less than $70,000.
Short form alternate rate calculation
  • All attributed benefits are subject to the single rate applicable for the year of this return (63.93%, 61.29% or 58.73%).
  • All non-attributed benefits are subject to the single rate of 49% (or the applicable single rate for the year of this return (64%, 61% or 59%) where one or more of the recipients of the benefit is a major shareholder-employee). Two pools for the benefits may be necessary in this situation.

This option would appeal to employers who predominantly provide attributed benefits to employees who earn more than $70,000 gross equivalent.

Our online Fringe benefit tax alternate rate calculator will assist in working out the FBT payable for either option.

Panel F - Fringe benefit tax to pay or refund

If you elect the single rate the amount of fringe benefit tax payable will be calculated automatically, as will the GST on the taxable value of fringe benefits.

If you elect the alternate rate option, the GST on the taxable value of fringe benefits will be calculated automatically, however you will need to enter the fringe benefit tax to pay from your alternate rate calculation sheet in the first box in Panel F.

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Date published: 13 May 2009

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