Prepare activity statement - fringe benefits tax (FBT)

This section displays where there is a fringe benefits tax (FBT) obligation and a requirement to pay FBT by instalments.

• Accept the ATO instalment amount 
• Vary instalment amount 
• Claiming a credit for overpayment of instalments 
• Screen fields 
• Screen buttons 

Accept the ATO instalment amount

We have calculated an instalment amount for your FBT at F1. If you agree this amount is correct, select Accept and Pay and then the Continue/Save and continue button. The amount will be transferred to 6A on the activity statement.

Vary the instalment amount

You can vary your instalments if you think using the amount we have provided means you will pay more (or less) than your expected tax for the income year. You will need to provide your estimate of your total FBT liability for the FBT year ending 31 March and report it at F2.

If you vary your instalment amount, and your total instalments for the year – or the estimates that you base them on – are less than 90% of your actual FBT liability for the year, you may incur a penalty.

How to calculate your varied instalment

You can work out the amount of the varied FBT instalment for the quarter using the formula:

(Estimated total FBT payable x relevant percentage) -
(Previous instalment liabilities - any previous credits claimed)

To vary the instalment amount:

• select Vary instalment.
• enter your new annual estimate at F2 
• enter your varied amount for the quarter at F3 
• choose a reason for variation at F4 
• select the Continue/Save and continue button.

We will determine the amount payable at F3 based on your new annual estimate.

Do not include any decimal point or cent amounts (round values down to the nearest whole dollar amount). For example, instead of entering $124.75 you would enter $124 only.

You may be eligible for a credit for FBT if you have excess instalment credits. This credit must be entered on the Complete activity statement - Fringe benefit tax (FBT) credit claim screen at 6B.

If you are lodging after the due date, you are not able to vary the instalment amount. The Vary instalment option is not available after the due date.

Claiming a credit for overpayment of instalments

If eligible, you will be provided with the option to claim a credit for overpayment of instalments reported in previous quarters based on your new annual estimate of FBT payable. For more information, refer to 6B - Credit from FBT instalment variation.

To claim a credit:

• enter the amount you would like to claim at 6B 
• select the Continue/Save and continue button.

The amount entered cannot be greater than the maximum amount calculated by us.

Do not include any decimal point or cent amounts (round values down to the nearest whole dollar amount). For example, instead of entering $124.75 you would enter $124 only.

Screen fields

F1 FBT instalment amount 

This is the FBT instalment amount calculated by us for the quarter. FBT quarterly instalments apply where the previous year's FBT liability was more than $3,000.

FBT instalments are based on the 'notional tax amount'. Generally, the notional tax amount is the same as your previous year's liability. You may apply to vary the notional tax amount in certain circumstances.

F2 Estimated FBT for the year 

This is your estimate of the total fringe benefits tax payable for the FBT year ending 31 March, where it differs from the ‘notional tax amount’ used to calculate the instalment shown at F1. If this occurs, you may pay varied instalments based on your new estimated liability.

F3 Varied amount for the quarter 

This is the amount of your varied FBT instalment for the quarter. For information on calculating your varied FBT instalment amount, refer to F3 - Varied amount for the quarter.

F4 Reason for FBT variation 

Select a reason for variation from the list box. This field must be completed where the FBT instalment amount is varied at F2.

6B - Credit from FBT instalment variation 

Enter the credit amount you would like to claim. You cannot claim more than the maximum amount calculated by us. For more information, refer to 6B - Credit from FBT instalment variation.

Screen buttons

Accept and pay

Accept and pay accepts the quarterly PAYG instalment amount worked out by us.

Vary instalment

This button allows you to vary the PAYG instalment amount or rate. The Vary button is not available if you are lodging after the due date.

Cancel

Selecting Cancel will return you to the Activity statement list screen. If you choose this option all of the data you have entered will be lost.

Save and exit

Save and exit saves of the details you have entered for this activity statement. The Activity Statement save was successful screen will be displayed.

Continue/Save and continue

Selecting Continue/Save and continue will save the details you have entered for this activity statement and returns you to the Prepare activity statement screen. The amount will be transferred to 6A and 6B on the activity statement.