This video will explain what is a reportable fringe benefit in your 2022 Australian Income Tax return for an individual employee and also what is the tax on reportable fringe benefits. I will also look at how the reportable fringe benefits number is entered into your MyGov or MyTax income tax return by the ATO and also how to speak to your employer to understand more about what fringe benefits you received in the financial tax year.

The Reportable fringe benefits number in an individual income tax return often causes a lot of surprises to people when they see it for the first time so by watching this video you learn much more about it and the impact it may have on your income tax payable including tax offsets like the low income tax offset, middle income tax offset, child care rebate, Medicare Levy Surcharge, superannuation contribution to your spouse, family tax benefit Part A and B, HELP repayments, and Child Support obligations.

LINKS
Reportable Fringe Benefits For Beginners | 2022 Australian Tax return 🤔    • Why Fringe Benefits Tax Made Me Lose ...  

💰 Use SHARESIGHT to track your shares - www.sharesight.com/moneywithdan/
(BONUS When you signup using this link, the first 4 months of subscription are free if you choose to upgrade to advanced plan and I may get a small my commission at no extra cost to you, so we both win!)

ATO - www.ato.gov.au/General/Fringe-benefits-tax-(fbt)/I…

DISCLAIMER
This video is intended for general information and entertainment only and is not a replacement for professional advice. Money with Dan is not a financial advisor. You should consider seeking independent legal, financial, taxation or other advice to check how the information in this video relates to your unique circumstances. Money with Dan is not liable for any loss caused, whether due to negligence or otherwise arising from the use of. or reliance on, the information provided directly or indirectly, by use of this video.

#FringeBenefits #Moneywithdan #IncomeTax