FBT rate changes
The FBT rate has changed from the year starting 1 April 2014 onwards.
FBT year |
FBT rate |
Type 1 gross-up rate |
Type 2 gross-up rate |
Starting 1 April 2013 (and prior years) |
46.5% |
2.0647 |
1.8692 |
Starting 1 April 2014 |
47% |
2.0802 |
1.8868 |
Starting 1 April 2015 and 1 April 2016 |
49% |
2.1463 |
1.9608 |
Starting 1 April 2017 |
47% |
2.0802 |
1.8868 |
Non-profit capping threshold and FBT rebate rate changes
The non-profit capping threshold and FBT rebate rate will change from the year starting 1 April 2015 onwards.
FBT year |
PBIs, HPCs, Rebatable employers |
Public and non-profit hospitals and public ambulance services |
FBT rebate rate |
Starting 1 April 2014 (and prior years) |
$30,000 |
$17,000 |
48% |
Starting 1 April 2015 and 1 April 2016 |
$31,177 |
$17,667 |
49% |
Starting 1 April 2017 |
$30,000 |
$17,000 |
47% |
Correcting a mistake
You can correct a mistake by striking it out in black pen. Write the new information as close as possible to the boxes for the label. You can also use tape white-out to correct errors. However, do not use liquid white-out – this causes problems with scanning, which will delay the processing of your return.