Process Fringe Benefit Tax Returns

Prepare and print Fringe Benefit Tax (FBT) returns using the PR FBT Summary Process form.

If you pay your FBT using instalments, you must use the HQ BAS Process form to prepare a Business Activity Statement (BAS) for each quarterly instalment prior to preparing your annual FBT return. For more information, see Business Activity Statements for FBT Instalments.
The instructions on this page detail how to process FBT Returns. Steps include:
  • Entering company information for the current tax year in the HQ ATO Tax Years form
  • Reviewing FBT info and adjusting amounts as necessary
  • Printing the PR Fringe Benefit Tax report to submit to the Australian Taxation Office using PR FBT Summary Process.
For more information on any specific field, see the F1 help.
  1. Set up your company information for the current tax year in the HQ ATO Tax Years form.
  2. Open the PR FBT Summary Process form. The system applies default information for the fields in the Contact and Employer's Declaration sections from the HQ ATO Tax Years form.
    Note: When the PR FBT Process form is opened, the system defaults the list of FBT EDL codes from the previous tax year record on the FBT Info tab. Additionally, the system will default any new FBT EDL codes that you have set up since the previous tax year. If a previous tax year does not exist, the system will default all FBT EDL codes that have been set up in the system.
  3. Review the default information on the Contact section of the form. Modify information as necessary.
  4. In the # of Employees field, enter the number of employees who received fringe benefits.
  5. In the Hours to Prepare field, enter the number of hours that it took to prepare the FBT return.
  6. Select the Lodging FBT Return check box if you expect to lodge an FBT return for this year or future years.
  7. In the Financial Institution Details section of the form, enter your account details. The account information you enter here will be used by the ATO to submit a credit back to you, if applicable.
  8. In the Employer's Declaration section of the form, review the defaulted information. Modify information as necessary.
  9. On the Add'l Info tab, enter FBT details in the Details of Fringe Benefits Provided fields. The information that you enter here will display in the Number column for each applicable benefit in the Details of fringe benefits provided section of the PR Fringe Benefits Tax Return report.
  10. Indicate the instalment amounts that you reported on a Business Activity Statement (BAS) in the Instalment Amounts Reports on BAS fields, as necessary.
    Note: You can find this information on the FBT/Summary tab on the HQ BAS Process form. Each quarterly instalment is represented by a different sequence on that form.
  11. Review the FBT information on the FBT Info tab, and edit or add information as necessary.
  12. Click Generate Amounts.
    The system displays a confirmation message.
  13. Click Close.
    The system defaults all of the codes from the FBT Info tab on to the Reportable Amounts tab, along with the associated amounts in the Amount field for each record.
  14. On the Reportable Amounts tab, review the amounts for each FBT code. If you need to change an amount for a code, enter the new amount in the corresponding Amount field. You cannot manually add or delete records from this grid.
    Note: If you select Generate Amounts again, prior to closing the tax year, the system displays a message asking if you want to overwrite existing amounts.

    • If you select No, the system updates only the amounts for codes that are newly added to this form and does not change existing codes.

    • If you select Yes, the system overwrites all code amounts and recalculates the value (regardless of override).

  15. When you are ready to print the report, select Options > Reports > PR Fringe Benefits Tax Return to generate the report. You can then submit the report to the ATO.
    Note: This option is only available from the Info and Add'l Info tabs.
  16. Once you have finished preparing and printing your FBT return, you should close the tax year to prevent any unintentional updates to the Reportable Amounts tab. To close the tax year, select FBT Tax Year Closed from the Close/Open Tax Year field at the bottom of the Info tab.
    Note: If the tax year has been closed and you select Generate Amounts, or attempt to change an amount on the Reportable Amounts tab, the system displays a warning asking if you want to reopen the tax year.
    • If you select No, the system does not open the tax year and does not change data on the Reportable Amounts tab.

    • If you select Yes, the system allows you to change amounts (or automatically regenerates amounts).