Fringe Benefits

Fringe Benefits are treated differently in each jurisdiction, but the net value of the fringe benefit is entered as the cash amount with a 'Fringe Benefit' pay item added to the employee's pay calculation:

Australia

The total of fringe benefit pay items is accumulated by the payment summary process to print on the payment summary. That amount is grossed up before printing by multiplying the net fringe benefit amount by (1 - FBT rate).

Fringe benefits have a 'TaxCategory' in the pay item set up screen set to 'FringeBen'.

New Zealand

Fringe benefits are reported on a quarterly basis to the IRD on an IR417 form. Kwik-Pay can print all the details required to complete the form. Select the Multi-Rate FBT report from the Reports, Pay Period menu.

Fringe benefits have a 'TaxCategory' in the pay item set up screen set to 'FringeBenefit'.

Papua New Guinea

Kwik-Pay includes pre-defined pay items for the two main types of fringe benefits: accomodation and car allowances. They are reported separately by Kwik-Pay on the tax certificates printed at end of year.

Notifiable fringe benefits have a 'TaxCategory' in the pay item set up screen set to 'Benefits'.