Payroll Q&A – Victorian Workers Compensation and Fringe Benefits
We are a Section 57A FBT exempt employer.
None of our employees receive benefits in total that exceed the $30,000 grossed up value and accordingly we do not pay FBT.
We only report fringe benefits provided to employees through the employee payment summary where the aggregate taxable value (pre-gross up) of the benefits exceeds $2,000.
We are preparing our annual wages declaration for Victorian Worksafe and want to know what value we are required to include in relation to fringe benefits.
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Disclaimer: This article is based upon information available as at the time of publishing and may be subject to change.