in previous years we have grossed up RFBA before 31.3. Do we still need to do that?

Rosemary Harrison

We are an FBT exempt DGR benevolent organisation and some employees use salary sacrifice (not for super)

Our STP2 reports show the actual FBT sal sac amount each pay but this is not grossed up.

In previous years we had gone into Year to date figures and entered the grossed up RFBA figures for 31/3 each year.

Employees interim income statements currently show the actual sacrificed amount not the grossed up.

Do we need to do an adjustment to YTD as in the past to bring up to Grossed up RFBA figures?

Acctd4

Hi @Rosemary Harrison

The sal sac amount on paycheques is purely representative of the amount the employee is "sacrificing" from their gross pay ONLY.

The reportable FBT amount is a grossed-up, separately calculated figure, that you need to obtain from your tax agent. This amount should then be manually added - via a relevant Company Contribution-type "Reportable Fringe Benefit" Payroll Item - onto the last Paycheque dated on - or before - 31/03, each year 😊