We are pleased to advise that easyFBT 2017 Fringe Benefits Tax Solution is now available for purchase and download. This first release for 2017 contains some enhancements to the LAFHA workpaper allowing you to enter both concessional and non-concessional LAFHA benefits together on the same row, a new Entertainment (All) workpaper as well as the introduction of the $5,000 GUTV Meal Entertainment Cap on Salary Sacrificed Meals/EFLE entertainment for FBT Exempt employers.
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FBT Exempt PBIs (Public benevolent institutions and health promotion charities) and FBT Exempt PNPHs (Public and non-profit hospitals and public ambulance services) now have an additional $5,000 meal entertainment cap on salary sacrificed Meals/EFLE entertainment benefits. This is a separate and specific cap in addition to the existing general exemption caps of $17,667 for PBIs and $31,177 for PNPHs for the 2017 FBT year.
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We have designed a new Entertainment (All) workpaper which combines the old Entertainment (Actual) and the old Meal Entertainment workpapers. This new workpaper was required due to the fact that as from the 2017 FBT year any salary sacrificed Meals/EFLE entertainment benefits must be valued under the Actual method (as they can’t be concessionally valued anymore) and these salary sacrificed Meals/EFLE entertainment benefits must now be included as reportable fringe benefit amounts (RFBs) for inclusion on your employee’s payment summaries where the total of all RFBs for the employee exceeds the $2,000 taxable value cap.
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