Things you need to know
This question is about reportable fringe benefits amounts that you received. Do not show any benefit less than $3,773.
Did you receive any reportable fringe benefits amounts of $3,773 or more?
- No – Write 0 (zero) at question IT1 – labels N and W, then go to question IT2 Reportable employer superannuation contributions 2024.
- Yes – Read on.
The amount at question IT1 – label W, and the amount at question Spouse details – married or de facto – label S, won't be adjusted down when we calculate the following offsets:
- the dependant (invalid and invalid carer) tax offset
- the zone and overseas forces tax offset
- the seniors and pensioners tax offset
- the low income superannuation tax offset.
What you need to answer this question
You will need each income statement, PAYG payment summary – individual non-business and PAYG payment summary – foreign employment you received that shows reportable fringe benefits amounts.
Completing your tax return
To complete this question, follow steps 1 and 2 below.
If a reportable fringe benefits amount shown on your payment summary or income statement is less than $3,773, don't include it in step 1 or step 2. Check with your employer that the amount is correct.
Step 1
Add up all the reportable fringe benefits amounts shown on your:
- payment summaries with Yes selected at Is the employer exempt from FBT under section 57A of the FBTAA 1986?
- income statements at Reportable fringe benefits – exempt amount.
Write the total at question IT1 – label N. If your total is zero, write 0 (zero) at label N.
Step 2
Add up all the reportable fringe benefits amounts shown on your:
- payment summaries with No selected at Is the employer exempt from FBT under section 57A of the FBTAA 1986?
- income statements at Reportable fringe benefits – non-exempt amount.
Write the total at question IT1 – label W. If your total is zero, write 0 (zero) at label W.
Where to go next
- Go to question IT2 Reportable employer superannuation contributions 2024.
- Return to main menu Individual tax return instructions 2024.
- Go back to Income tests 2024.