Overview:
- Understand instructions for completing your FBT return in New Zealand.
Note: Find out everything you need to know about Fringe benefits tax FBT) and how FBT affects you and what you need to do with the New Zealand Inland Revenue Department.
How to fill out the FBT form?
Note: Filling out the FBT form is a manual process where you’re required to manage record keeping that’ll help your auditors with reconciliation. It is a one-page form that is PDF enabled. Here's a sample of the FBT form.
Here's how you fill in the FBT form:
1 IRD number
Type in your Inland Revenue Department number that is unique to your business
2 Quarter ended
Indicate which quarter you’re filling the FBT quarterly return.
A3 Taxable benefits provided for this quarter
Copy the total taxable values from your taxable value calculation sheet – IR427 to this box. If there’s no taxable value, leave the box blank and still file the return.
B4 Complete sections for prior Quarters
Follow the instructions for this section. Percentages are included for periods covered.
C5 Complete this section for the current quarter return
Complete this section using the Taxable value calculation sheet – IR429.
D6 Fringe benefit tax to pay or refund
Follow the instructions to calculate whether you have a FBT payable or refund.
7 GST payable on fringe benefits
Follow the calculations instructions on the form
8 Tax to pay or refund
Follow the instructions mentioned on the form
Declaration
Sign your name and date of submission.
Note: Make a copy of your own records after you’ve lodged the FBT return.
What’s next?
Find out how to make FBT payments for your employees via the Business Activity Statements.
Need more help?
No problem, that's what we're here for. Reach out to support@wiise.com anytime you can't find what you're looking for.