April 2017 Release

The following changes and enhancements have been made in the April 2017 release of easyFBT 2017 (2017.1.0.3):

Fringe Benefit Tax (FBT) Return 2017 and SBR Interactions

The ATO Fringe Benefit Tax (FBT) Return 2017 form has been added to this version and can be produced as a paper form for manual lodgement with the ATO as per prior years or when using the SBR Interaction Manager to lodge electronically.

Enhancements and other changes

Workpaper Importing

We have updated a number of importing validations to cater for some highly unusual validation edge-cases.

 

December 2016 Release

The following changes and enhancements have been made in the December 2016 release of easyFBT 2017 (2017.1.0.2):

Enhancements and other changes

Car Workpaper

We have added the new optional simplified approach for Fleet Cars in the Car workpaper in accordance with the ATO's recently introduced Practical Compliance Guidelines - PCG 2016/10. This allows for an optional, simplified approach to working out the business use percentage component of the operating cost method for employers with a fleet of 20 or more ‘Tool of Trade’ fleet cars.

Fixes

Workpaper Import

We have fixed an issue when importing aggregated Loan Repayments where the incorrect formatting was applied in some cases to dates causing the row to be rejected.

 

October 2016 Release

The following changes and enhancements have been made in the October 2016 release of easyFBT 2017 (2017.1.0.1):

Enhancements and other changes

Workpapers

The following changes have been made:

  • Various changes to the Living Away From Home (LAFHA) workpaper which now allows for concessional and non-concessional benefits to be entered onto a single benefit row
  • We have introduced a new Entertainment (All) workpaper which replaces the existing Meal Entertainment workpaper as well as some further changes around the availability of the Entertainment (Actual) workpaper
  • Added a new Entertainment Valuation Method Election table within the Properties and Settings area for use with the new Entertainment (All) workpaper
  • Added the Salary Sacrificed Benefit? column to the Income Tax Exempt Body Entertainment (All) and Income Tax Exempt Body Entertainment (Actual) workpapers
  • Added the Entertainment Type column to the Entertainment (Actual) and Income Tax Exempt Body Entertainment (Actual) workpapers
  • In the Summary workpaper, where Car Parking or Meal Entertainment is chosen as the Benefit Area we have included some changes around the availability of some fields  (Salary Sacrificed Benefit?, Excluded Benefit, RFBA Reduction)

Reporting

The following changes have been made:

  • With the introduction of the $5,000 GUTV Meal Entertainment Cap on Salary Sacrificed Meals/EFLE entertainment for FBT Exempt employers various FBT Reconciliation and Year-On-Year reports have been updated
  • Created new validation reports which review entertainment valuation elections made by users across both entities and consolidations (see ATO Form validations)
  • Variations of the RFBA Reportable Employees Summary Report for Payroll and RFBA Reportable Employees Summary Report for Payroll (Including TV of the RFBA) have been added which display truncated (whole dollar) values in the RFBA (After Reporting Exclusion Threshold) column (user request)
  • Added a new report for the Entertainment (All) workpaper

ATO Form validation

The Cheaper Entertainment Valuation Method Election (in base entities) and both the Inconsistent Consolidated Entertainment Valuation Method Election and Cheaper Consolidated Entertainment Valuation Method Election (Consolidations) reports are now included as validations when displaying the ATO Form.

SBR Interactions Manager

The SBR Interactions Manager has been temporarily disabled as usual within this initial release version. Once the 2017 taxonomy is released by the ATO it will be included and then re-enabled within the forms release version of easyFBT 2017.

In-House Benefit Reduction Allocation Wizard

When applicable, the Entertainment (All) workpaper will be available for selection within the In-House Benefit Reduction Allocation wizard.

General changes

As with each FBT year, rates and other values are required to be updated.  The following changes have been made for the 2017 FBT year:

  • Updated the Car Parking public holidays table with the 2016/17 state gazetted public holidays
  • Updated Indexation rates for Housing
  • Updated Cents per Km rates for Residual Non-Cars: 0 to 2500cc (52c), Over 2500cc (63c), Motorcycles (16c)
  • Updated LAFHA country codes and rates
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