You can work out the taxable value of fringe benefits in myIR, using our worksheets or your own calculations, and file your return at the same time.
If you do not use myIR, you can use the worksheets in 1 of our fringe benefit tax (FBT) calculators for quarterly, income year or annual returns, then transfer the results into your FBT paper return.
The worksheets in myIR and our FBT calculators work out the taxable values and FBT to pay.
Before you start
You'll need to have some information ready for working out taxable values.
Enter your information into your FBT return in myIR
You can use myIR to calculate the taxable values, and to complete your fringe benefit tax return.
Or, you can use 1 of our calculators if you do not have a myIR account.
Complete your FBT calculation
When you have added all your taxable value worksheet information, the next step is to complete your FBT calculation in your return.
Taxable benefits
- If you’re using the calculation worksheet option, the taxable benefit amount is completed for you.
- If you’re using the pooled alternate rate worksheet, use the change taxable amount toggle to enter your taxable benefits.
- For the use my values option, enter the taxable fringe benefits from your records in the FBT calculation.
Quarter 1, 2 and 3
- Enter the taxable benefits for the quarter (use my values option only).
- Select the single rate 63.93% or 49.25% alternate rate.
- Enter exempt and/or zero-rated GST fringe benefits.
Quarter 4, income year and annual returns
- Enter the taxable benefits for the quarter (use my values option and pooled alternate rate).
- For alternate rate calculations, use Change FBT to pay amount toggle to open the field and enter your amount, based on your calculations.
- Enter the amount of any exempt or zero-rated GST fringe benefits.
GST
If the GST amount is different to your calculations, you can use the 'Change GST amount' toggle to enter your value.
Total tax to pay
The amount of FBT (including GST) to pay for the return period.
This may be a refund if you’ve used the single rate in quarter 1, 2 or 3 and have completed the alternate rate calculation in quarter 4, or if you have made a remuneration adjustment for last year.
Filing paper returns
- Transfer the taxable fringe benefits to box 3 in your return.
- Follow the paper return instruction to complete your FBT calculation, GST payable and tax to pay or refund.
Review your return
Review your return details, and confirm the information is correct.
Pay your FBT
If you are using myIR to file your FBT return, you can choose to make a payment for the total tax amount. You can pay by direct debit, or credit card now.
You can also choose to pay later, but if you do not pay by the return due date, you may be charged late payment penalties and interest.
Submit your return
Log in to myIR
If you do not use myIR, you can use the worksheets in 1 of our fringe benefit tax calculators for quarterly, income year or annual returns, then transfer the results into your FBT paper return.
The worksheets in myIR and our FBT calculators work out the taxable values and FBT to pay.
Find calculators and worksheets for FBT
Remuneration adjustments
The remuneration adjustment worksheet is in part 8 of the Fringe benefit tax guide – IR409. You’ll need to copy the worksheet in the guide.