How does the reportable fringe benefit amount affect the employee?
A reportable fringe benefit is the pre tax amount of the benefit received. This amount is reported on the individuals’ Payment Summary. Generally, the reportable fringe benefit amount is included in means testing and can affect some benefits including Family Payments, Child Support, Medicare surcharge and HECS repayment. As fringe benefits affect employees in different ways, please seek independent taxation advice.
Related Questions
- What if I have limited dental benefits available through my Federal Employee Health Benefit (FEHB) Plan? How does this affect my MetLife dental claims?
- Why do I have reportable fringe benefit, CDEP and Lump Sum E on our Employee, ATO Payment Summary Report?
- How does the reportable fringe benefit amount affect the employee?
