The updated 2021 FBT Toolkit is now available for download for member schools and Staff Relations Service participants. [Note: you must be logged in to see and download the toolkit]
The Toolkit contains a range of materials to assist schools in meeting their Fringe Benefits Tax obligations.
The 2021_FBT_Toolkit (a compressed or ‘zipped’ file) contains:
- Version 4.1 of the CSA FBT Worksheet (which merely updates hyperlinks to 2021 references);
- Version 5.0 BETA of the CSA FBT Worksheet (which adds the operating cost method and provision for days a vehicle under the statutory formula is NOT available for private use);
- Version 9.90 of the CSA Salary Packaging Calculator (updating tax rates);
- Sample Employee Declarations;
- Information and sample documentation for FBT exempt work related items.
The Toolkit has been updated with changes to the notes and the updated FBT Rates on the FBT Worksheet. It is based on the 2021 FBT return and instructions.
If you have existing data in an earlier version, from version 4.0, and are not using the operating cost method and do not need to account for the days a vehicle is not available for private use you do not need to update to version 5.0.
Please note, however, that any version of the Worksheet prior to Version 4.0 is no longer current and should not be used.
Version 5.0 has the additional options outlined above but is still a BETA version – feedback would be very welcome.
It is also important that you ensure than any applicable Employee Declarations are completed properly and retained on file.
The Salary Packaging Calculator has been updated to include current references to ATO information and rates. Please note the the estimated income tax payable there does NOT incorporate the effect of the Low and Medium Income Tax Offset (LMITO).
The ATO has a wealth of information to assist you in meeting your FBT responsibilities. In particular the FBT Guide for Employers is an invaluable resource. It can be viewed online here.