EOFY FINANLISATION 2025/2026
I have an employee who I had terminated last May 2025 . The accountant has given me an amount for FBT for him for 1.4.2025 to 31.3.2026 which he has an amount I need to enter that is over the thresho...
Forum Discussion
Hi, I am no expert, so please check with your accountant.
The Taxable Amount to report is over $2,000, so the grossed up RFBA amount is 3,773.
My understanding is then, that if the amount you are trying to report is under $3,773 it is then under the threshold and does not need to be reported - hence the 'something went wrong' That is, you only need to report amounts over $3,773.
If the amount the Accountant supplied you was the grossed up RFBA of $2,435 then you would not need to report it on the employees RFBA - PLEASE CHECK THIS WITH YOUR ACCOUNTANT (are they supplying you with the Taxable Amount or the RFBA)
