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Tax Administration Act 1994

Information, record-keeping, and returns - Returns - Fringe benefits

46B: FBT returns for quarters

You could also call this:

"What you need to do for Fringe Benefit Tax returns each quarter"

Illustration for Tax Administration Act 1994

You pay Fringe Benefit Tax (FBT) as an employer. You choose how you pay it. You must give a return for each quarter of a tax year. The return shows the fringe benefits your employees got and how much FBT you owe. You give the return and pay the FBT by certain dates. For the first three quarters, you have 20 days after the quarter ends. For the last quarter, you have until 31 May after the quarter ends. If you pay FBT under sections RD 50 and RD 53 of the Income Tax Act 2007, you get a refund if you overpay. You pay the difference if you underpay. You still give a return even if you did not give any fringe benefits. But the Commissioner might not make you do this. If you stop employing staff, you give a return within two months after the quarter ends. You follow the same rules as before for this return.

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46C: FBT returns for years, or

"Reporting fringe benefits and paying Fringe Benefit Tax each year"

Part 3Information, record-keeping, and returns
Returns: Fringe benefits

46BFBT returns for quarters

  1. This section applies to an employer who pays their FBT liability under the single rate option or the alternate rate option. The employer chooses the relevant option by providing a return stipulating the selected rate.

  2. For each quarter of a tax year, the employer must provide a return that—

  3. sets out the details of the fringe benefits received by each of their employees in the quarter; and
    1. includes a calculation of the amount of FBT payable on the taxable value of the fringe benefits in the quarter.

      1. The returns must be provided, and the employer is liable to pay the amount of FBT, by the following dates:

      2. for a return for each of the first 3 quarters of a tax year, 20 days after the end of the quarter:
        1. for a return for the final quarter of a tax year, 31 May after the end of the quarter, unless subsection (4)(a) applies.

          1. If an employer chooses to pay FBT under sections RD 50 and RD 53 of the Income Tax Act 2007, and the result of the calculation is—

          2. a negative number, the employer is entitled to a refund of the overpayment:
            1. a positive number, the employer must pay the difference.

              1. If no fringe benefit has been provided during a quarter, the employer must still provide a return under subsection (3). However, the Commissioner may relieve an employer of this obligation.

              2. If an employer stops employing staff in a tax year as described in section RD 63 of that Act, they must provide a return within 2 months after the end of the quarter in which the employment ceased. For this purpose, subsections (3) and (4), and paragraph (d) of the definition of date interest starts apply to the employer.

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              Notes
              • Section 46B: inserted, on (effective for 2008–09 income year and later income years, unless the context requires otherwise), by section ZA 2 of the Income Tax Act 2007 (2007 No 97).