Fringe Benefits Tax Information Schedule & Checklist · Fringe Benefits Tax Information Schedule & Checklist ... Fringe Benefits Tax Information Schedule & Checklist ... this questionnaire?

Fringe Benefits Tax Information Schedule & Checklist For the FBT year ending 31st March 2016

Page 1 of 8

Hillard O’Donnell & Associates Certified Practising Accountants (CPA)

1st Floor, 225 Lower Heidelberg Road, Ivanhoe East VIC 3079

Client Name __________________________________________________ Important Information about this checklist –

1. Checklist Due Date: Friday, 29th April 2016 - Failure to return this checklist by the due date may result in delayed preparation of your FBT Return which may result in late lodgement and penalties being applied by the Australian Taxation Office (ATO).

2. If there are benefits that you find are not necessary to be completed, please TICK the [N/A] box provided.

Car Fringe Benefits – n/a [ ] What is a car fringe benefit? A car benefit arises when a car owned, leased or held by an employer is made available at any time for the private use of an employee or an associate of an employee, including travel to and from work. There are two methods for calculating motor vehicle fringe benefits - statutory formula and actual operating cost method. In general, if the business percentage of the car is low and the annual mileage is high, it is more tax effective to use the former method.

a) Please provide the following information for each car provided as a Fringe Benefit. If you

have more than 3 vehicles, please attach to this schedule a separate A4 sheet with a copy of this table.

Particulars Vehicle No. 1 Vehicle No. 2 Vehicle No. 3

Make & Model of car

Registration Number

Name of driver for each car

Date car first held/leased

Disposal date, if applicable

Base value of car (inc. GST)

$ $ $

Days available for private use

Odometer reading (Km.) as at 1 April 2015 *

Km Km Km

Odometer reading (Km.) as at 31 March 2016 *

Km Km Km

* Documentary Support required


Page 2 of 8



Car Fringe Benefits (continued)

b) Actual Costs from 1 April 2015 to 31 March 2016 where operating cost method to be used

(not required if you prefer using the Statutory method for calculating FBT.) If you have more than 2 vehicles, please attach to this schedule a separate A4 sheet with a copy of this table.

Details of Car Expenses

Vehicle (1) (inc GST)

(1) GST Amount


(2) GST Amount


(3) GST Amount

Repair & Maintenance

$ $ $ $ $ $

Registration $ $ $ $ $ $

Insurance $ $ $ $ $ $

Lease Payments

$ $ $ $ $ $

Petrol $ $ $ $ $ $

c) Any employee contributions ($) towards the provision and upkeep of the car that were not

reimbursed by the employer? Yes - go to (d) / No - go to (e)

d) Please provide the amount contributed: $..................................... NOTE - Any employee contributions declared here must also be declared as income in your company's income tax return and will be subject to GST.

e) Business Use Percentage - Please confirm the business percentage for each vehicle as

supported by a logbook. If you have more than 3 vehicles, please attach to this schedule a separate A4 sheet with a copy of this table.

Business Use Vehicle 1 Vehicle 2 Vehicle 3

Registration number:

Business (%) % % %

f) Any extras installed in the car? e.g. CD/MP3 Player, Bluetooth, GPS, reverse camera,

accessories (PAID BY EMPLOYER) Yes - go to (g) / No

g) Provide details of extras paid for by the Employer:

……………………………………………………………………………………………………………………………………………………………

………..…………………………………………………………………………………………………………………………………………………

……………………………………………………………………………………………………………………………………………………………


Page 3 of 8



Car Fringe Benefits (continued)

Hire-Purchased/ Leased

a) Was a new car hire-purchased/leased in 2016 FBT year? Yes – Go to (b) / No

b) Attach the relevant documents for the acquisition of the car. This is because some of the

costs may be excluded in the base value of the car, e.g. trade-in or payment made by employee etc., resulting in a lower FBT liability.

Statutory Formula Rules – New Vehicles Purchased As at 10th May 2011, statutory formula rates will apply to any new vehicles purchased, and any changes to commitments in existing contracts. If any changes have been made to existing hire purchase/ lease agreements, including payments of residual, please provide relevant documentation and details.

Yes – attach supporting documents / No

Car Parking Fringe Benefits – n/a [ ]

a) Are car parking spaces provided to employees at a commercial car park that is owned or leased by the provider? (i.e. employer)

Yes / No

b) Is the commercial car park charge more than $8.37 per day for all-day parking? Yes / No

c) If YES to the both questions (a) and (b), please provide the following details. If you have

more than 2 employees, please attach to this schedule a separate A4 sheet with a copy of this table.

Name of Employee

Value of space $ $

No. of days of sick/annual leave in the FBT year

Lowest price of commercial car parking within 1Km.

$ $

Employee contribution (if any)


Page 4 of 8



Loans/Debt Waiver Fringe Benefits – n/a [ ] a) Were any loans made to employees, including directors or their associates?

Yes – must complete table (c) / No - Go to (b)

b) Have any employee debts been waived since 1 April 2015? Yes – must complete table (c) / No

c) If YES to question (a) OR (b,) please provide the following details. If you have more than 2

employees, please attach to this schedule a separate A4 sheet with a copy of this table.

Name of Employee

Date of Loan or Waiver made

Amount ($)

Purpose of the loan or reason for waiving it

Interest paid or accrued by employee

Closing balance of loan

Employee Discount Programs – n/a [ ]

a) Do you provide, or are you aware of, discounts to your employees by a third party? For example, you may have an arrangement with a supplier to provide your employees with discounted prices on their goods or services.

Yes - go to (b) / No

b) Provide details of discounts to your employees by a third party: ……………………………………………………………………………………………………………………………………………………………

………..…………………………………………………………………………………………………………………………………………………

……………………………………………………………………………………………………………………………………………………………

……………………………………………………………………………………………………………………………………………………………

……………………………………………………………………………………………………………………………………………………………


Page 5 of 8



Expense Payments Fringe Benefits – n/a [ ] a) Were there any expenses paid on behalf of the employee?

Yes – go to (b) / No

b) Provide details of any expenses paid on behalf of the employees in the table below. Indicate whether the amounts were related to the business activity of the company. If you have more than 2 employees, please attach to this schedule a separate A4 sheet with a copy of this table.

Examples: school fees, home office computers (other than laptop or notebook computers) telephone, rates & taxes, heat and power, medical benefits, insurance, rent, travel, credit card expenses, mortgage repayments, motor vehicle leases or hire purchase payments where the car is not held by the employer.

Name of Employee

Amount paid on behalf of employee

$ $

Description of expenses paid

Private use percentage

% %

Housing/Board Fringe Benefits – n/a [ ] a) Were any employees provided with any form of accommodation or board payments?


b) Please provide the following details. If you have more than 2 employees, please attach to this schedule a separate A4 sheet with a copy of this table.

Name of Employee

Total number of days of board provided

Market value of accommodation

Employee contribution, if any


Page 6 of 8



Living Away From Home Allowance Fringe Benefits – n/a [ ] a) Were any employees or their associates provided with an allowance to enable them to

cover additional expenses in respect of accommodation while the employees are living away from their usual place of residence for employment reasons?



Name of Employee

Total Allowance paid $ $

Allowance paid for accommodation

$ $

Allowance paid for meal $ $

Is the employee an expatriate? YES / NO YES / NO

Property Fringe Benefits – n/a [ ] a) Were any employees or their associates provided with property, free or at a discount, by

the employer? Yes – go to (b) & (c) / No

b) Was the property provided an in-house property, i.e. items normally sold as part of the

employer's business? Some of the properties provided to the employees are exempt fringe benefits, e.g. notebook computer, briefcase etc. Please contact us if you have any queries.

Yes – go to (b) & (c) / No

c) Please provide the following details. If you have more than 2 employees, please attach to this schedule a separate A4 sheet with a copy of this table.

Name of Employee

Description of Property

In-house or external property

Cost price, GST-inclusive ($)



Page 7 of 8



Meal Entertainment Fringe Benefits – n/a [ ] What is a meal entertainment fringe benefit? Entertainment provided by an employer may give rise to a fringe benefit tax liability. However, only that part of the entertainment provided to an employee (or an associate) will be taxable. An employer’s meal entertainment expenses include:

Entertainment by way of food or drink with or without clients outside business premises;

Accommodation or travel in connection with the provision of entertainment by way of food/drink.

Expenses incurred by an employer in providing entertainment to its clients are not subject to FBT but the expenses are not deductible.

a) According to the above explanation of ‘What is a meal entertainment fringe benefit?’, had

you incurred any entertainment expenses? Yes - go to (b) / No

b) Please provide details of the entertainment costs incurred in relation to meal entertainment benefit. You must also break down the total entertainment expenses into the following categories of Employee’s Entertainment and Client’s Entertainment using the table below including providing details on each category if applicable. If these details are not available you need to provide the total entertainment expenditure amount. If the meal entertainment expenses could not be broken down into the above components, the 50/50 split method, i.e. 50% of the expenses are subject to FBT and deductible will be used to calculate the FBT.

Employee’s Entertainment

No. of Employees

Date of benefit provided

Amount paid on behalf of employees

$ $

Amount refund by employees, if any

$ $

Client’s Entertainment

No. of Clients

Date of benefit provided

Amount paid for clients $ $

Total Employee’s Entertainment $

Total Client’s Entertainment $

Total Entertainment Expense $


Page 8 of 8



Other Benefits (Residual) – n/a [ ] a) Were any employees or their associates provided with any non-cash benefits not covered in

this questionnaire? Yes - go to (b) / No


Name of Employee

Type of Benefit Provided

Cost of benefit


Declaration I declare that the information provided including the proof obtained which will be made available to Hillard O’Donnell & Associates for the preparation of this Fringe Benefits Tax Return for the year ending 31st March 2016, including any applicable schedules and documents is true and correct. I confirm that by sending in this checklist, I am giving authority for Hillard O’Donnell & Associates to assess the Fringe Benefits Tax liability/status of the below mentioned client. I declare that I am an authorised represented of ………………………………………………………………………………………………………………………….. (please write client name) and I am authorised to make this declaration.

Print Name of Authorised Representative of above mentioned client«MailingName»

Signature of Authorised Representative of above mentioned client Date Please select one…

☐ Yes – please email my FBT return to ……………………………………………………………… (please advise email)

☐ I would prefer a hard copy of my FBT return mailed.

Documents

Fringe Benefits Tax Information Schedule & Checklist · Fringe Benefits Tax Information Schedule & Checklist ... Fringe Benefits Tax Information Schedule & Checklist ... this questionnaire?