Fringe benefits
Fringe Benefits are extra benefits that some employers provide. You need to tell us about any reportable fringe benefits that you and your partner get from an employer. These may include:
- helping you pay your rent or home loan
- providing a home phone or a car
- paying your children's school fees
- paying your health insurance premiums
- paying your child care expenses
Your employer has to keep records of the value of any fringe benefits given to you from 1 April to 31 March each year. Last year's amount on your payment summary (group certificate) may help you estimate your reportable fringe benefits for the current year or you can ask your employer to tell you the expected amount for this financial year.
From your estimate of reportable fringe benefits, we will deduct an amount for fringe benefits tax and include what's left to as part of your income. However, if you wish to work out this amount for your own information, use the following formula:
| Fringe benefit tax amount shown on your payment summary (group certificate) | x 0.535* | = the reportable fringe benefit tax amount used by the Family Assistance Office |
* The number 0.535 is the sum of (1-Fringe Benefit Tax, currently 46.5 per cent)
If you would like help working out what your reportable fringe benefits are, you can:
- contact us to talk to a customer service officer, or
- use the Income Calculator, or
- the Family Assistance Estimator
Example
If you receive $2 000 in Fringe Benefits from your employer:
If you receive $2 000 in Fringe Benefits from your employer:
- $2 000 x 0.535 = $1 070
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