This section provides an overview of each type of fringe benefit and will help you to complete item 23:
- A – Cars using the statutory formula
- B - Cars using the operating cost method
- C - Loans granted
- D - Debt waiver
- E - Expense payments
- F - Housing - units of accommodation provided
- G - Employees receiving living-away-from-home-allowance
- J - Board
- K - Property
- L - Income tax exempt body - entertainment
- M - Other benefits (residual)
- N - Car parking
- P - Meal entertainment
Make sure that you do not include the gross-up calculation in the amounts you show at this item.
There are specific valuation rules for each fringe benefit category. Before you can calculate the taxable value of any benefit and complete the details in the 'Taxable value of benefits' column, you must identify the category of the benefit you provided and do the appropriate calculations for that category.
Refer to Fringe benefits tax – a guide for employers for more information.
Non-profit organisations
You must include the taxable value of the benefits you provided (not the aggregate non-exempt amount) if you are:
- an eligible public benevolent institution
- an eligible health promotion charity
- a public hospital
- a non-profit hospital
- a public ambulance service.
The information you include in the 'Taxable value of benefits' column is based on the total of the individual base non-exempt amounts for all employees you calculated at steps 3 and 5 of item 14C.
The figures you place in the 'Taxable value of benefits' column must be the amounts before the capping amounts ($31,177 or $17,667) are deducted.