*Make sure to download first the LodgeiT Smart Excel Utility Tool, learn more here 

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Create Form and Download Template

Once you have downloaded the LodgeiT Smart Excel Utility (LSU). You may now proceed with the worksheet and form:

Select the "Year", and press "Create & Prefill"


Via 3 dots > Import.


Download the "Template" to generate your calculation and worksheet.

*Make sure to download first the LodgeiT Smart Excel Utility Tool, learn more here

FBT Excel Worksheet and Calculation

Inside the excel, select "LodgeiT" plug-in > LodgeiT standard, and press "FBT Return Preparer"


To get start, you need to create "Add Employee"

Then, once you have an "Employee", create "Add Benefit"

Inside the "Benefits", make sure that you are working with the correct "Employee/s", if you need to change, press the 3 dots

 

Illustration of the Worksheet with Benefits and Employees:

Once the employees and benefits are done, you may then proceed with the import.

Press "Add All Benefits to Excel" 

Result:

Illustration: The "Expense Payment" is divided to 2 employees Lizza and Lulu. The calculation in excel will auto split the amount for both employees.

It also auto fill the excel tab "FBT Form"

Uploading the worksheet via Form

Via 3 dots > Import.


Select the file and Import

Note: A fringe benefits tax (FBT) rate of 47% applies across the 31 March 2022 to 31 March 2026 FBT years.

The $12,666.50 is the total tax rate (47%) from $26,950.


Related Guides:

ATO: Fringe benefits tax – a guide for employers

ATO: Fringe benefits tax – rates and thresholds

ATO: Fringe benefits tax – historical rates and thresholds


FBT lodgments will adopt the pricing structure of Income Tax Returns, for further details about the pricing, check here 

Related Guide: Preparation of Fringe Benefit Tax Return (FBT)