Paying the Provided FBT Instalment Amount

You can use the HQ BAS Process form to prepare a Business Activity Statement (BAS) for paying the ATO-provided FBT instalment amount.

  1. Set up your company information for the current tax year in HQ ATO Tax Years.
  2. Open the HQ BAS Process form.
It defaults to the current tax year as specified in HQ ATO Tax Years.
  3. Enter a new sequence number in the Sequence field. You can also enter New, N, or + to use the next available sequence number.
    Note: Each time you create a BAS for reporting, you must use a new sequence number. By creating a new sequence number, you can report amounts specific to the quarter (or other specified time period) rather than for the whole year.
  4. Set up your general BAS information in the following fields: Form Due On, Payment Due On, Contact Person, Contact Phone, GST Acct Method, Signature, Date, Return this completed form to, Hours, and Minutes. For more information on a specific field, see the F1 help.
  5. On the FBT/Summary tab (FBT section), enter a reporting date range in the Start Date and End Date fields, or click the Calendar button () to select dates for either field.
  6. Enter the ATO-provided instalment amount in the FBT Instalment field.
  7. On the FBT/Summary tab, enter an amount in the Credit from FBT instalment variation field if necessary.
  8. Save the record as normal.
  9. Return to the Info tab and select Options > Reports > HQ Business Activity Statement Report to run the report.
  10. Submit the BAS report to the ATO.
  11. Repeats steps 1-9 for each quarter you are reporting instalments.
After you have submitted your last quarterly instalment BAS, you can use PR FBT Summary Process form to prepare your annual FBT return.