Paying Varied FBT Instalment Amounts
You can use the HQ BAS Process form to pay a varied Fringe Benefit Tax (FBT) amount.
- Set up your company information for the current tax year in HQ ATO Tax Years.
- Open the HQ BAS Process form. It defaults to the current tax year as specified in HQ ATO Tax Years.
- 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.
- 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.
- 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.
- Enter your estimated FBT amount in the Estimated FBT for the year field.
- Enter the amount you are paying for the quarter in the Varied amount for the quarter field.
- Enter the reason code that describes the variation in the Reason code for variation field. Press F4 to see a list of reason codes.
- On the FBT/Summary tab, enter an amount in the Credit from FBT instalment variation field if necessary.
- Save the record as normal.
- Return to the Info tab and select to run the report.
- Submit the BAS report to the ATO.
- Repeats steps 1-9 for each quarter you are reporting instalments.