When a Reportable Fringe Benefit (RFB) value is entered or changed in the employee's Tax details, it is reported in the next STP event, either a pay event or an update event and reported to the ATO. It will continue to be reported with each subsequent STP event.
When Change Tax Year is run, RFB values on the employee record are written to a table and retained as employee's FB values for that year. The RFB Taxable and RFB Exempt fields in Employee Tax Details are cleared, ready for new financial year.
Likewise, you can enter Foreign Employment Income (FEI) values into an employee's Tax Details. These values will be reported via STP Reporting or STP Update to the ATO in the next and subsequent events. They will also be cleared from the employee record when Change Tax Year is performed but are save to a table for that year and can be report on.
You can use STP Adjustment to amend and report RFB and FEI values for a previous financial year.
To review RFB and FEI values for the current and previous Financial Years, use the following IQ Reports:
IQ-RFB - Display RFB for the selected financial year - for RFB values
IQ-STP2FEI - STP 2 FEI Report by Financial Year - for FEI values
When the reports are run for the current financial year, the IQ displays the values currently recorded in the employee's Tax Details. When the reports are run for a previous financial year, the IQ displays the RFB and FEI values saved when Change Tax Year was run. They will not show values entered via STP Adjustment.
Run the IQ-RFB
Go to Common, IQ
Double-click on IQB-RFB.
Enter the Financial Year.
Click OK.
Run the IQ-STP2FEI
Go to Common, IQ
Double-click on IQ-STP2FEI.
Enter the required parameters.
Financial Year
Payroll Company Code - enter the Company Code or leave it blank for all companies.
Pay Frequency Code - enter the Pay Frequency Code or leave it blank for all frequencies.
Include Terminated - enter 1 to include or 0 to exclude.
ETP Cap for Death Benefits - is subtracted from the employee's ETP (post June 83) to show an amount in the ETP D - Taxable column of the report if Death Benefit ETPS were processed. The field defaults to 230000, which was the cap for 2022/2023. Refer to the ATO for death benefit ETP Cap amounts for other years.
Click OK.