A “reportable fringe benefits” amount is a calculation in respect of a fringe benefit which is shown on an employee’s annual payment summary. The amount is declared in the employee’s tax return but is not directly taxed as assessable income.
See: Reportable Fringe Benefits calculations
Reportable fringe benefits are taken into account when working out certain tax concessions or levies which are made subject to an income test.
They include:
- Medicare Levy Surcharge
- Medicare levy surcharge lump sum payment in arrears tax offset
- deductions for personal super contributions
- super co-contribution
- tax offset for contributions to your spouse’s super
- former mature age worker tax offset
- Higher Education Loan Program (HELP) and Financial Supplement repayments
- former dependent tax offsets, including
- dependent spouse
- child-housekeeper
- parent, spouse’s parent or invalid relative
- housekeeper tax offset
- Dependant Invalid and Carer Tax Offset (DICTO)
- senior Australians and pensioner tax offset
- your child support obligations
- your entitlement to many income-tested government benefits.
This page was last modified on 2018-12-10