Concept: Record Fringe Benefits Tax (AUS)
You can record Reportable Fringe Benefits Amounts (RFBA) for workers incrementally throughout the year, or as a one-off input at the end of the Fringe Benefit Tax (FBT) year. Workday reports your YTD Reportable Fringe Benefits Amounts to the ATO in every STP submission.
You can record RFBA by doing a pay input using the Workday delivered pay component:
AUS Reportable Fringe Benefits (FBT)
. RFBA that you report in Workday doesn't impact a worker's gross-to-net pay.The FBT year runs from 1st April to the 31st March. Don't enter FBT accumulated between 1st April and the 30th June into Workday until the new tax year starts on the 1st July to avoid FBT being reported to the ATO in the incorrect period.
Workday reports the YTD sum of all the pay components in the pay component group to the ATO:
All Reportable Fringe Benefits Amounts (FBT/RFBA)
. If you create your own FBT earnings, ensure that you add them to this pay component group so that they’re reported to the ATO.Workday delivers the pay balance:
All AUS Reportable Fringe Benefits Amounts (FBT/RFBA) - YTD
to sum all pay components in the pay component group for reporting purposes.