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.
Reportable fringe benefits are taken into account when working out certain tax concessions or levies which are made subject to an income test.
- 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
- mature age worker tax offset
- Higher Education Loan Program (HELP) and Financial Supplement repayments
- dependent tax offsets, including
- dependent spouse
- parent, spouse’s parent or invalid relative
- housekeeper tax offset
- senior Australians and pensioner tax offset
- your child support obligations
- your entitlement to many income-tested government benefits.
This page was last modified on 19 September 2017