Over the last week, we have released an update to our Reportable Fringe Benefit (RFB) Settings feature on our Payroll Platform. Read on below to see the details of what this change entails.
Currently, when an employer selects the Yes tick box to being exempt from FBT under section 57A of the FBTAA, we then display another 2 sub-settings:
- Which FBT exempt organisation type does this employer fall under?
- Are employees entitled to a separate cap for salary packaged entertainment benefits as per section 6.5 of the Fringe Benefits Tax legislation?
From Friday 16 July, we will remove the above 2 sub-settings. This applies to both the ATO Settings page and the Employing Entities page.