FBT+calculation



@Motor Vehicle FBT Calculation

Record FBT with MYOB http://community.myob.com/t5/Tax-and-Business-Activity/Recording-of-FBT-payment-in-MYOB/td-p/57237

‎06-07-2011 10:33 AM  Hi The company has incurred an FBT debt for the first time, which we've paid the ATO. Can someone please advise the correct procedure and chart of account names for recording this payment on MYOB. The calculation of the FBT debt was not entered initially in MYOB. Thanks

To record the FBT liability and subsequent payment, I would follow this process - 1. Create an account called // FBT Payable // in the Liability area of your Account List (preferably close to your GST or ATO liability accounts). Select "Other Current Liability" as the Account Type. The account number should be 2-xxxx. 2. Create another account called // FBT Expense // in the Expense area of the Account List (preferably close to your Wages & Salaries or Super accounts). The account number should be 6-xxxx. 3. To record the FBT Liability - process a general journal Debiting 6-xxxx (FBT Expense) and Crediting 2-xxxx (FBT LIability). Enter a comment similar to "to bring to account 2010-11 FBT liability". Enter N-T as the tax code. 4. To record the payment to the ATO - process a Spend Money transaction, using the ATO in the Card field with the comment "2010-11 FBT Liability payment" in the Memo Field. Allocate the payment to the 2-xxxx account (FBT Liability) to clear the balance of this account. Again, enter N-T as the tax code. See the attached MS Word document as a visual example of the above process. Andy Robert FIPA MICB Face 2 Face Business Solutions Management Accountant email - andy@f2fbusinessmentors.com.au web - www.f2fbusinessmentors.com.au

https://www.dlsweb.rmit.edu.au/toolbox/finance/fnbacc02a/preparestatutory/keyprinciple/fbtcalcs.htm can be calculated using the following procedure. || ** [|STEP 1] ** || Work out the ** [|TAXABLE VALUE] ** of each of the individual fringe benefits provided to each employee; || [|TOP] **STEP 1 - WORK OUT THE TAXABLE VALUE OF THE BENEFIT** The taxable value of a fringe benefit depends on the type of fringe benefit it is. Each type of Benefit has a different set of rules. In most categories, if the employee makes a payment to the employer (as a contribution towards the cost of providing the fringe benefit), the taxable value of that fringe benefit is reduced by that particular payment. Such a payment is referred to as an employee contribution (or recipient's contribution). Refer to the [|MOTOR VEHICLES FRINGE BENEFITS FORMULA] to see how the employee's contribution reduces the taxable value of the benefit. [|TOP] **STEP 2 - THE AGGREGATE FRINGE BENEFITS AMOUNT** The aggregate fringe benefits amount is the sum of the taxable values of all of the fringe benefits provided by the employer during the year. The Fringe Benefits Tax Return form requires totals of benefits of different types to be shown. However, the [|REPORTABLE FRINGE BENEFITS] arrangements require that the taxable value of each individual employee's fringe benefits be calculated, and recorded. Therefore calculations should be done on an individual employee basis, then added. [|TOP] **STEP 3 - THE FRINGE BENEFITS TAXABLE AMOUNT** The fringe benefits taxable amount is obtained by `grossing-up' the aggregate fringe benefits amount, to a tax-inclusive amount, to ensure that fringe benefits are taxed on the same basis as salary or wages. <span style="font-family: Verdana,Arial,Helvetica,sans-serif;">The taxable amount is calculated by: <span style="font-family: Verdana,Arial,Helvetica,sans-serif;">**//Dividing// the Aggregate Benefits //by// (1 - 48.5%)** <span style="font-family: Verdana,Arial,Helvetica,sans-serif;">(The 48.5% may change as tax rates change - It is calculated as the highest marginal tax rate //plus// medicare levy) <span style="font-family: Verdana,Arial,Helvetica,sans-serif;">**Example** <span style="font-family: Verdana,Arial,Helvetica,sans-serif;">The employer's aggregate fringe benefits amount is $3000. If the rate of tax is 48.5%, then the employer's fringe benefits taxable amount is calculated as follows: <span style="font-family: Verdana,Arial,Helvetica,sans-serif;">$3000 divided by (1- 48.5%) = $3000 / 51.5% = $5825 <span style="font-family: Verdana,Arial,Helvetica,sans-serif; font-size: 12px; text-decoration: none;">[|TOP] <span style="font-family: Verdana,Arial,Helvetica,sans-serif;">**STEP 4 - CALCULATE THE TAX PAYABLE** <span style="font-family: Verdana,Arial,Helvetica,sans-serif;">The tax payable is the fringe benefits taxable amount multiplied by the rate of tax. <span style="font-family: Verdana,Arial,Helvetica,sans-serif;">**Example** <span style="font-family: Verdana,Arial,Helvetica,sans-serif;">If the fringe benefits taxable amount is $5825, and if the rate of tax is 48.5%, then the tax payable is $2825 (i.e. $5825 × 48.5%). <span style="font-family: Verdana,Arial,Helvetica,sans-serif;">There is a label on the FBT return relating to rebates. The **rebate**of 48% of the tax payable is only available to certain non-profit, non-government employers. <span style="font-family: Verdana,Arial,Helvetica,sans-serif; font-size: 12px; text-decoration: none;">[|TOP]
 * <span style="font-family: Verdana,Arial,Helvetica,sans-serif;">**FBT Calculation** ||
 * <span style="font-family: Verdana,Arial,Helvetica,sans-serif;">The Fringe Benefits Tax Payable by an employer
 * <span style="font-family: Verdana,Arial,Helvetica,sans-serif;">** [|STEP 2] ** || <span style="font-family: Verdana,Arial,Helvetica,sans-serif;">obtain the ** [|AGGREGATE FRINGE BENEFITS AMOUNT] ** by summing up all of the taxable values; ||
 * <span style="font-family: Verdana,Arial,Helvetica,sans-serif;">** [|STEP 3] ** || <span style="font-family: Verdana,Arial,Helvetica,sans-serif;">obtain the ** [|FRINGE BENEFITS TAXABLE AMOUNT] ** by `grossing-up' the aggregate fringe benefit amount; ||
 * <span style="font-family: Verdana,Arial,Helvetica,sans-serif;">** [|STEP 4] ** || <span style="font-family: Verdana,Arial,Helvetica,sans-serif;">calculate the ** [|AMOUNT OF TAX PAYABLE] ** as a percentage of the fringe benefits taxable amount. ||

=<span style="color: #3c4246; font-family: Ubuntu,sans-serif; font-size: 36px;">Understanding Fringe Benefits Tax 101 = Providing benefits can be a great way to recognise and reward your employees’ contribution to your business, but you should remember that some benefits or perks are subject to Fringe Benefit Tax (FBT). This is a tax employers that pay on certain benefits they provide to their employees. I’ve listed below items that apply to FBT taxable employers. **Calculating the Fringe Benefit Tax** Fringe Benefits are split into Type 1 and Type 2 benefits. The below steps provided by the ATO could help you calculate your FBT. 1. Work out the taxable value (pre-gross up) of all Fringe Benefit you provide to employees. 2. Identify from 1, the total taxable value of Fringe Benefits you provide for which you can claim a GST credit (Type 1 benefits). 3. Work out the grossed-up taxable value of these Type 1 benefits by multiplying the total taxable value by the type 1 gross up rate (currently **2.1463**). 4. Identify from 1, the total taxable value of benefits for which you cannot claim a GST credit, for example, supplies you made that were either GST-free or input taxed (Type 2 benefits). 5. Work out the grossed-up taxable value of these Type 2 benefits by multiplying the total taxable by the type 2 gross up rate (currently **1.****9608**). 6. Add the grossed-up amounts from steps 3 and 5. This is your total Fringe Benefits Taxable amount. 7. Multiply the total Fringe Benefits Taxable amount (from step 6) by the FBT rate (currently 49%). This is the total FBT amount you are liable to pay. Assume you pay a staff member $100,000 p/a and provide a car benefit with a taxable value of $10,000 during the 2015/16 FBT year. The $100,000 is taxed at the applicable PAYG withholding rate which you withhold and pay to the ATO. The $10,000 car benefit is taxed as follows: **Reporting requirements for FBT on payment summaries** Where the pre-gross up taxable value of the Fringe Benefits provided to an employee exceeds $2,000 within the FBT financial year (1 April to 31 March), the grossed-up taxable value of those benefits must be included on the employee’s Payment Summary for the corresponding payroll financial year (1 July to 30 June). Some Fringe Benefits don’t need to be reported on payment summaries. The value of the above car benefit that is included on the employee’s 2016 PAYG payment summary is as follows: Fringe benefits tax is complex and you should always consult your advisor on these matters. Get your books organised by using MYOB online accounting software. If you’d like to learn how to make your business successful, visit myob.com.au/businesstips.
 * By [|Joe Kaleb]
 * on 25th Jun 2015
 * Types of taxable Fringe Benefits include:**
 * The private use of a car
 * Low interest loans used for private purposes
 * Payment of private expenses
 * Certain types of entertainment e.g. meals where an employee is not travelling overnight
 * Other benefits if the cost is above certain thresholds.
 * Example**
 * Taxable Value || $10,000 ||
 * Multiplied by Gross-up rate x || __2.1463__ ||
 * Grossed-up taxable value || $21,463 ||
 * FBT Rate || 49% ||
 * FBT Payable (rounded) || __$10,517__ ||
 * Example**
 * Taxable Value || $10,000 ||
 * Multiplied by Gross-up rate x || 1.9608 ||
 * FBT Reportable amount || __$19,608__ ||

http://myob.com.au/blog/tax-benefits-101/ 每次发工资都在扣： FBT employee contribution而且是税后来扣，心痛:||| **jackotman** 发表于 2016-7-14 14:20:39

本帖最后由 jackotman 于 2016-7-14 14:22 编辑

dctyf 发表于 2016-7-14 14:15 static/image/common/back.gif 每次发工资都在扣： FBT employee contribution而且是税后来扣，心痛

这个你要让你老公和HR谈了. 公司不会瞎扣钱的. 看看你们当初签的协议. 里面应该说清楚的. 每个公司的情况都不一样. 不能一概而论

还有就是FBT 一般是税前扣得 FBT employee contribution 是税后扣得

其实两种不同的算法. 换汤不换药.

FBT employee contribution 比 FBT 扣得少 FBT 返还

具体问公司财务 **simonwang** 发表于 2016-7-15 15:08:58

用雇员税后收入抵消FBT taxable value是一种常见的做法，适用于雇员收入低于十八万的情况. 公司提供车以及运营费用，员工提供税后付款帮助减少员工福利税，减少公司开支. 这样的做法其实是双方都在分担车辆的开支.

如果不做employee contribution， 公司不要支付较大额的员工福利税，payment summary上也可能会有reportable fringe benefits amount (RFBA). RFBA的影响参见此帖：

http://www.oursteps.com.au/bbs/forum.php?mod=viewthread&tid=1223350&extra=page%3D1 页: **[1]**

https://206.190.140.212/bbs/archiver/?tid-1224663.html

How to calculation reportable fringe benefit <span style="background-color: #e6e6dd; font-family: 微软雅黑,Verdana,Arial,Helvetica,sans-serif; font-size: 16px;">题目: <span style="background-color: #e6e6dd; color: #000000; font-family: 微软雅黑,Verdana,Arial,Helvetica,sans-serif; font-size: 16px;">[|澳洲FBT包含Fringe Benefit, Fringe Benefit Taxable Value等]

<span style="background-color: #e6e6dd; font-family: Tahoma,Verdana; font-size: 14px;">1.Fringe Benefit：也就是雇员所得到的福利，或者通俗一点，就是非现金类（非Income Tax所涵盖）的收入，再通俗一点，就是Salary package/sacrifice的收入；FBT是税种，Salary package/Salary sacrifice就是实现这一福利税的方式、途径

<span style="background-color: #e6e6dd; font-family: Tahoma,Verdana; font-size: 14px;">Fringe Benefit Taxable Value：所得税有各项抵扣，FBT也有类似的法规，所以并非是有$1的福利，就有$1的FBT应税额. 正如会计师的价值是让你的所得税应税额越少越好，Salary package的时候，也要尽量扩大福利的数额同时减小Fringe Benefit Taxable Value. 具体的计算规定，以后介绍.

<span style="background-color: #e6e6dd; font-family: Tahoma,Verdana; font-size: 14px;">3.Fringe Benefit Tax rate：这是所得税与福利税一个明显的区别，福利税没有分档，一律按照最高的所得税率+Medicare Levy,两年前是48.5%，现在是46.5%. 按照工党的预算，福利税率还将下降. 不过别把它和个人所得税率混淆了，只是法律规定其等值，目的是在于让尽可能多的人去正常的缴纳所得税，而不要去寻求非现金类的福利. 后面有例子进一步说明.

<span style="background-color: #e6e6dd; font-family: Tahoma,Verdana; font-size: 14px;">4.FBT liability：这也是所得税与福利税的一个区别. 计算所得税时（暂时不考虑各个税挡），应税收入乘以所得税率就是所得税额，而在福利税中：

<span style="background-color: #e6e6dd; font-family: Tahoma,Verdana; font-size: 14px;">FBT liability = Fringe Benefit Taxable Value * Gross Up rate * Fringe Benefit Tax rate

<span style="background-color: #e6e6dd; font-family: Tahoma,Verdana; font-size: 14px;">（Fringe Benefit Taxable Value * Gross Up rate 所得的数值称为Gross Up Value, 在以后的介绍中有重要意义. ）

<span style="background-color: #e6e6dd; font-family: Tahoma,Verdana; font-size: 14px;">Gross Up Rate（GU rate），是福利税一个独特的概念，取决于雇员所获得的福利是否含有GST. 不含GST的，GU rate是1.8692， 含GST的， GU rate 是 2.0647.

<span style="background-color: #e6e6dd; font-family: Tahoma,Verdana; font-size: 14px;">假设，雇员有了$1 Fringe Benefit Taxable Value

<span style="background-color: #e6e6dd; font-family: Tahoma,Verdana; font-size: 14px;">If GST Exclusive, FBT liability = $1(Fringe Benefit Taxable Value)* 1.8692(GU rate) * 46.5%(Fringe Benefit Tax rate) =　$0.8692;

<span style="background-color: #e6e6dd; font-family: Tahoma,Verdana; font-size: 14px;">If GST Inclusive, FBT liability = $1 * 2.0647 * 46.5% =　$0.9601.

<span style="background-color: #e6e6dd; font-family: Tahoma,Verdana; font-size: 14px;">如果雇员同时有不同种的福利，那么就要按照有无ＧＳＴ分类，然后各自Gross Up，得到的Gross Up Value再加总，然后乘以４６．５％，即得ＦＢＴ税额了.

<span style="background-color: #e6e6dd; font-family: Tahoma,Verdana; font-size: 14px;">举例：年收入为税前９０，０００澳币，最高适用所得税率为４１．５％（包含Medicare Levy）. 假设她没有Salary Sacrifice,为了支付＄１００水费（不含ＧＳＴ），所需要的税前收入就是：＄１００／（１－４１．５％）＝＄１７０．９４. ＄７０．９４用于支付所得税，＄１００就是税后收入.

<span style="background-color: #e6e6dd; font-family: Tahoma,Verdana; font-size: 14px;">如果Salary Sacrifice，她从税前收入支付＄１００水费，这＄１００收入就不用交所得税了，但是FBT = $100 * 1.8692 *46.5% = $86.9

<span style="background-color: #e6e6dd; font-family: Tahoma,Verdana; font-size: 14px;">2.

<span style="background-color: #e6e6dd; font-family: Tahoma,Verdana; font-size: 14px;">两者比较，同样支付了＄１００水费，所得税＄７０．９４＜福利税＄８６．９２.

<span style="background-color: #e6e6dd; font-family: Tahoma,Verdana; font-size: 14px;">再举例：年收入为税前２００，０００澳币，最高适用所得税率为４６．５％（包含Medicare Levy）. 假设她没有Salary Sacrifice,为了支付＄１００水费，所需要的税前收入就是：＄１００／（１－４６．５％）＝＄１８６．９２. ＄８６．９２用于支付所得税，＄１００就是税后收入.

<span style="background-color: #e6e6dd; font-family: Tahoma,Verdana; font-size: 14px;">如果Salary Sacrifice，她从税前收入支付＄１００水费，这＄１００收入还是不用交所得税了，FBT因为税率不变，依旧 = $100 * 1.8692 *46.5% = $86.92.

<span style="background-color: #e6e6dd; font-family: Tahoma,Verdana; font-size: 14px;">两者比较，同样支付了＄１００水费，所得税＄８６．９２＝福利税＄８６．９２.

<span style="background-color: #e6e6dd; font-family: Tahoma,Verdana; font-size: 14px;">通过上面两个例子可见，一般情况下，获得同样的支付效果，员工所要交纳的福利税总不小于个人所得税. 如果年收入更少，缴纳的所得税就更低了，而福利税一直不变. 所以才有前面的个人理解“目的是在于让尽可能多的人去正常的缴纳所得税，而不要去寻求非现金类的福利. ”

<span style="background-color: #e6e6dd; font-family: Tahoma,Verdana; font-size: 14px;">5. Reportable Fringe Benefit(RFB): 这是会显示在雇员Payment Summary(Group Certificate)中的一个数字，它在计算政府津贴和诸如Medicare Surcharge的时候，用来衡量个人的真实收入水平（而非个人所得税的应税收入）. RFB与Gross Up Value有类似之处，都是等于Fringe Benefit Taxable Value * Gross Up rate，但是在计算Gross Up Value的时候按GST有无而运用１．８６９２或者２．０６４７的 Gross Up rate，　而计算RFB时，不管有无ＧＳＴ，都乘以１．８６９２.

<span style="background-color: #e6e6dd; font-family: Tahoma,Verdana; font-size: 14px;">举例：Salary Sacrifice有＄５０水费(Non GST)和＄４０电话费(GST inclusive),

<span style="background-color: #e6e6dd; font-family: Tahoma,Verdana; font-size: 14px;">Gross Up Value = $50 * 1.8692 + $40 * 2.0647 = $176.048

<span style="background-color: #e6e6dd; font-family: Tahoma,Verdana; font-size: 14px;">Reportable Fringe Benefit(RFB): = ($50+$40) * 1.8692 = $168.228

<span style="background-color: #e6e6dd; font-family: Tahoma,Verdana; font-size: 14px;">可见Reportable Fringe Benefit(RFB)不大于Gross Up Value. Reportable Fringe Benefit(RFB)主要用于政府津贴方面测算真实收入，Gross Up Value则只用于去计算FBT liability.

<span style="background-color: #e6e6dd; font-family: Tahoma,Verdana; font-size: 14px;">6. Input Tax Credit(ITC):这个其实就是GST refund from ATO. 当你选择含GST的福利的时候，由于名义的费用支付者是你的雇主，雇主可以将福利中含有的GST的数量放入自己的BAS报表里面，然后从税务局获得退款. 现在一般的后续操作是，雇主将ITC作为税前收入再退回雇员个人（注意，这会增加你个人缴纳所得税的基数），不过也有无良雇主中饱私囊.

<span style="background-color: #e6e6dd; font-family: Tahoma,Verdana; font-size: 14px;">根据上面计算FBT liability的公式，似乎看起来含GST的福利所要缴纳的FBT会高一些，因为2.0647高于1.8692（废话 ）而公式其他部分一样，但是如果考虑到ITC返还的话，两者其实没有根本上的区别，所以不必计较选择是否含GST的福利. 在后面介绍Novated Lease的章节中会提到 ITC的一个特例.

<span style="background-color: #e6e6dd; font-family: Tahoma,Verdana; font-size: 14px;">从上面这两个例子，也可以发现，为什么要在福利税中引进Gross Up Rate这一概念. 因为如果直接将＄１００＊４６．５％去计算福利税额，显失公允，等于是把＄１００税前收入和＄１００税后收入同等比较. 那么Gross Up Rate　就是“把税前福利额（＄１００）折算成能获取同等购买力（＄１００）的所得税应税额的一个系数”，法规中取所得税最高比率.

<span style="background-color: #e6e6dd; font-family: Tahoma,Verdana; font-size: 14px;">在例２中，为了拿到税后＄１００，阿丝付出了＄８６．９２的所得税，也就是说所得税应税额＝＄１８６．９２. 而在福利税中 FBT taxable value * Gross Up Rate = ＄１００　＊　１．８６９２　＝　＄１８６．９２. 至此两者再比较，就合理了.

<span style="background-color: #e6e6dd; font-family: Tahoma,Verdana; font-size: 14px;">呵呵，是不是有点晕哦. 很多鬼佬同事都不能理解，只好硬背.

<span style="background-color: #e6e6dd; font-family: Tahoma,Verdana; font-size: 14px;">1 / (1 - FBT rate)＝1/(1-46.5%) = 1.8692

<span style="background-color: #e6e6dd; font-family: Tahoma,Verdana; font-size: 14px;">如何取得２．０６４７？相对复杂一点，因为有ＧＳＴ在内，

<span style="background-color: #e6e6dd; font-family: Tahoma,Verdana; font-size: 14px;">(FBT rate + GST rate) / ((1 - FBT rate) x (1 + GST rate) x (FBT rate)) = (46.5% + 10%) / ((1-46.5%) x (1+10%) x 46.5%) = 56.5% / (53.5% x 1.1 x 46.5%) = 2.0647