Employee Fringe Benefits Details

This activity allows you to record the Fringe Benefit Tax (FBT) details of the employees. Employer may sometimes extend some benefits that include certain rights, privileges or services to employees during the course of employment. In some instances, these benefits can be extended to employees associates. Fringe benefits are payments to employees in a different form to salaries or wages. You can specify the fringe benefit details like fringe benefit category, description, gross taxable value, employee contribution and reduction value. The system computes and displays the individual and total fringe benefit amount and FBT payable details.

Objective

This activity allows you to do the following

• Record employee fringe benefits details

• Modify the details of employee fringe benefits details

Prerequisites

• Employee Code should have been defined through Employee Code Setup component.

• Employee details should have been defined through Employee Personal Information component.

• Employment details should have been defined through the Employment Information component.

• All user defined values should have been defined through the HR General Information component.

Procedure

To record new employee fringe benefits details

1. To record employee fringe benefits details select Statutory → Australia Statutory Administration → Employee Fringe Benefits Details from the Business Process menu.

2. Choose the option from the Australia Statutory Setup Unit combo. The system displays the currency of the selected OU.

3. In the Search Criteria section, enter the code that identifies the employee. Click the lens icon to retrieve an employee code from the Help on Employee screen. The system displays the name of the employee.

4. Click Get to retrieve the existing fringe benefit details.

5. In the Access History section, choose the option from the Effective Period combo to access the history with the effective dates.

6. In the Fringe Benefit Details multiline, choose the category of the fringe benefit. The system lists GST Creditable benefit, GST Creditable Excluded Benefit, GST Free Benefit and GST Free Excluded Benefit as options.

7. Enter the description for the selected fringe benefit category.

8. Enter the gross taxable value of the fringe benefit tax.

9. Enter the contribution of the employee against fringe benefit.

10. Enter the value to be deducted against the fringe benefit tax.

11. In the Modification Details section, choose Correct option from Modification Option combo to save the modified details with current effective date.

12. Choose Update option from Modification Option combo to update the modified details with new effective date.

Note: While modifying, you can use one of the two available modification options viz., "Correct" and "Update". If you choose the Correct option, the changes you make will come into effect in the existing record itself. If you choose the Update option, the system closes the existing version of the record and will create a new record containing the changes you make. You are to specify a new effective date which will become the effective date for the new record.

13. Enter the New Effective From date to validate the updated the records.

14. Enter relevant Remarks that pertaining to the fringe benefit tax details.

15. Click Save Drafts to save and compute the fringe benefit detail of the employee.

The system calculates and displays the individual fringe benefit amount, type 1 aggregated amount, type 2 aggregated amount, total fringe benefit taxable amount and FBT payable.

16. Click Submit to save the employee fringe benefit details.

Note: The system saves the employee fringe benefit details.

To edit the details of employee fringe benefit details

1. To edit or update an existing employee fringe benefits details select Statutory → Australia Statutory Administration → Employee Fringe Benefits Details from the Business Process menu.

2. Choose the option from the Australia Statutory Setup Unit combo.

3. Enter the code that identifies the employee. Click the lens icon to retrieve an employee code from the Help on Employee screen. The system displays the name of the employee.

4. Click Get to retrieve the employee fringe benefit details.

The system retrieves and displays entire details of the specified employee code. Make required modifications to the data displayed. Refer Fields in this Screen topic for an explanation of the fields displayed.

5. Click Submit to save the fringe benefit details of the employee.

Fields in this screen (Employee Fringe Benefit Details)