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Pure Science Pty Ltd employs workers throughout Australia in the 2018-19 financial year. All employees receive the following taxable fringe benefits.
| Type of benefit | NSW | Interstate |
|---|---|---|
| Living away from home allowance | $15,000 | $25,000 |
| Expense payments | $30,000 | $10,000 |
| Cars using the operating cost method | $65,000 | $35,000 |
| Meal entertainment | $10,000 | $10,000 |
| Total | $120,000 | $80,000 |
The total taxable amounts have been split into the following type 1 and type 2 aggregate amounts.
| Aggregate | NSW | Interstate |
|---|---|---|
| Type 1 | $70,000 | $45,000 |
| Type 2 | $50,000 | $35,000 |
| Total | $120,000 | $80,000 |
In order to include the correct fringe benefit amount in the 2019 annual payroll tax return, Pure Science calculated the gross-up amount using the 2019 type 2 factor:
| NSW | Interstate | |
|---|---|---|
| Total aggregate amount | $120,000 | $80,000 |
| Type 2 rate | 1.8868 | 1.8868 |
| Total taxable fringe benefits* | $226,416 | $150,944 |
*(Type 1 aggregate + Type 2 aggregate) × 1.8868
As a result, Pure Science Pty Ltd reported $226,416 as liable NSW wages and $150,944 as liable interstate wages within their 2019 annual payroll tax return.
The value of fringe benefits of Rose Walls Pty Ltd in its 31 March 2018 Fringe Benefit Tax (FBT) return after grossing up by the type 2 factor is $120,000. Excluding fringe benefits, Rose Walls has $600,000 in taxable wages for the 2018-19 financial year, of which $300,000 were NSW wages.
The monthly estimate method, was used to calculate the taxable value of FBT for Rose Wall’s monthly payroll tax returns.
After completing the FBT return for the period ending 31 March 2019, the value of fringe benefits for Rose Walls Pty Ltd after grossing up by the type 2 factor is $180,000. Excluding fringe benefits, the total Australian taxable wages for the 2018-19 financial year were $800,000, $600,000 of which were NSW wages.
Rose Walls must make an adjustment in its 2018-19 annual return to reflect the actual taxable amount of fringe benefits.
The amount of NSW fringe benefits that Rose Walls Pty Ltd must declare in the 2018-19 annual adjustment return is $135,000.