Example
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Fringe Benefits Tax Return Example
Example document for Fringe Benefits Tax Return. Use this as a reference when creating your own.
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Document: Fringe Benefits Tax Return
Example Document
Last updated 7/30/2026
Fringe Benefits Tax Return Preparation Worksheet
Business Details
- Business Name: Smith's Plumbing Services Pty Ltd
- ABN: 12 345 678 901
- FBT Year: 1 April 2023 to 31 March 2024
- Contact Person: John Smith
- Phone Number: 0412 345 678
Section 1: Summary of Taxable Benefits
Type 1 Grossed-up Amount (GST Creditable)
- Total Type 1 Taxable Value: $3,500.00
- Gross-up Rate: 2.0802
- Type 1 Grossed-up Amount: $7,280.70
Type 2 Grossed-up Amount (No GST Credit)
- Total Type 2 Taxable Value: $0.00
- Gross-up Rate: 1.8868
- Type 2 Grossed-up Amount: $0.00
Total FBT Payable
- Total Grossed-up Amount: $7,280.70
- FBT Rate: 47%
- Net FBT Payable: $3,421.93
Section 2: Detail of Individual Benefits
Motor Vehicles
- Description of Vehicle: 2021 Ford Ranger Ute (Private use exceeds exemption limit)
- Number of Vehicles: 1
- Calculation Method Used: Statutory Formula
- Total Taxable Value: $3,500.00
Entertainment
- Description: Staff Christmas Dinner (Minor benefit exemption claimed)
- Total Taxable Value: $0.00
Expense Payments
- Description: Annual tool allowance paid directly to supplier
- Total Taxable Value: $0.00 (Exempt as it is a bona fide expense payment)
Section 3: Deductions and Credits
- FBT instalments paid during year: $1,200.00
- Other Credits: $0.00
- Amount Due/Refundable: $2,221.93
Notes
Key Decisions:
- Ford Ranger Ute was calculated using the Statutory Formula method (20% of base value) as private use logs were not kept to support the Operating Cost method.
- Christmas dinner was treated as exempt using the Minor Benefits exemption because the cost per head was under $300 and it was infrequent.
- Tool payments were exempt under the 'property exemption' as they were for tools of trade required for employment duties.
About this Example
Part of the Fringe Benefits Tax Return document collection
Document Type
Fringe Benefits Tax Return
An annual form lodged with the ATO to report and pay tax on non-cash benefits provided to employees, such as company cars or loans.
Complexity
complex
Risk Level
high