Field Definitions: PR FBT Summary Process Form

The following is a list of field descriptions for the PR FBT Summary Process form. Many of the descriptions include links to other topics that provide additional information about or related to the topic.

Tax Year

This field defaults to the latest tax year for existing records in the PR FBT Summary Process form.

To view FBT details for a previously set up tax year, you can enter the year in this field or press F4 for a list of tax years.

To create a new tax year, you must first set it up in HQ ATO Tax Years.

Given Name

This field defaults from the Given Name field on the HQ ATO Tax Years form. Accept the default or enter the given name of the contact person whom the ATO can contact with questions regarding your FBT return. If you modify this field here, the system will not update the HQ ATO Tax Years form.

Middle Name

This field defaults from the Middle Name field on the HQ ATO Tax Years form.

Accept the default or enter the middle name of the contact person whom the ATO can contact with questions regarding your FBT return. If you modify this field here, the system will not update the HQ ATO Tax Years form.

Surname

This field defaults from the Surname field on the HQ ATO Tax Years form. Accept the default or rnter the surname of the contact person whom the ATO can contact with questions regarding your FBT return. If you modify this field here, the system will not update the HQ ATO Tax Years form.

Phone

This field defaults from the Phone field on the HQ ATO Tax Years form. Enter the phone number for the person that the ATO can use to contact with questions regarding your FBT return. If you modify this field here, the system will not update the HQ ATO Tax Years form.

Email

This field defaults from the Email field on the HQ ATO Tax Years form. Accept the default or enter the email address for the person that the ATO can use to contact with questions regarding your returns/reports. If you modify this field here, the system does not update the HQ ATO Tax Years form.

# of Employees

Enter the number of employees and their associates who received fringe benefits during the current tax year.

Hours to Prepare

Enter the number of hours it took you to complete your FBT return. This field initially defaults to 1.

Lodging FBT Return in Future Years

Check this box if you plan to lodge FBT returns in the future. This box initially defaults to checked.

CM Account

Enter the CM account where refunds from the ATO will be deposited. Press F4 for a list of CM accounts.

BSB #

This field defaults from the CM Accounts form (BSB # field) based on the account you specify in the CM Account field. Accept the default or change as necessary. If you modify this field here, the system will not update CM Accounts.

Bank Acct

This field defaults from the CM Accounts form (Bank Account # field) based on the account you specify in the CM Account field. Accept the default or change as necessary. If you modify this field here, the system will not update CM Accounts.

Account Name

This field defaults from the CM Accounts form (Account Name field) based on the account you specify in the CM Account field. Accept the default or change as necessary. If you modify this field here, the system will not update CM Accounts.

Signature of Employer

This field defaults from the Signature of Employer field on the HQ ATO Tax Years form. Accept the default or enter the employer's signature name. This name will display in the Employer's declaration section of the Fringe Benefit Tax (FBT) return. If you modify this field here, the system will not update the HQ ATO Tax Years form.

Report Date

This field defaults from the Report Date field in the HQ ATO Tax Years from. Accept the default or enter the reporting date for the FBT return. If you modify this field here, the system will not update the HQ ATO Tax Years form.

FBT Tax Year Close/Open

To lock the current FBT tax year, and prevent any unintentional updates to the Reportable Amounts tab, select FBT Tax Year Closed. To open the FBT tax year and change data on the Reportable Amounts tab, select FBT Tax Year Open.

Details of fringe benefits provided

For each field, enter the corresponding number. The information that you enter into these fields 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. The following fields are available on this form (all other benefit types do not require a value in the Number column of the report):

  • (A) Cars using the statutory formula

  • (B) Cars using the operating cost method

  • (C) Loans granted

  • (F) Housing - units of accommodation provided

  • (G) Employees receiving away from home allowance

Instalment Amounts Reported on BAS

If you pay your FBT by instalments, enter the amount for each instalment that you reported on a business activity statement. If you do not pay FBT by instalment, leave these fields blank.

Note: You can find this information on the FBT/Summary tab on the HQ BAS Process form. Each quarterly instalment will be represented by a different sequence on that form.

FBT Type

Select the Fringe Benefit Tax type from the drop-down. The following options are available:

  • 1 - When you select this option, the reportable amount for this record will display in the A field in the Calculated fringe benefits taxable amounts section of the PR Fringe Benefits Tax Return report.

  • 2 - When you select this option, the reportable amount for this record will display in the B field in the Calculated fringe benefits taxable amounts section of the PR Fringe Benefits Tax Return report.

EDL Type

Select the EDL code type. The following options are available:

  • E-Earnings

  • D-Deduction

  • L-Liability

EDL Code

Enter the earnings, deduction, or liability code or press F4 to see a list of valid codes based on the type you specified in the EDL Type field.

Category

Select a category to determine where the FBT code details display on the PR Fringe Benefits Tax Return report. The letter of each category corresponds to the fringe benefit categories in the Details of fringe benefits provided section of the PR Fringe Benefit Tax Return report.

Amount

This field defaults the sum total of payroll accumulations for the associated FBT earnings/deduction/liability code once you select Generate Amounts.

You can edit the value as necessary.

Note: If you select Generate Amounts again, prior to closing the tax year, the system will display a message asking if you want to overwrite existing amounts. If you select Yes, the system will overwrite all code amounts and recalculate the value (regardless of override). If you select No, the system will update only the amounts for codes that are newly added to this form and will not change existing codes.