ONESOURCE Fringe Benefits Tax FEATURE

FBT calculations & reporting guide

Discover FBT calculations, and reporting essentials. Learn about exempt benefits, contributions, deductions, and the FBT tax year.

Automation of FBT compliance

Transform your FBT compliance process with automation that enhances efficiency and accuracy. By streamlining routine tasks and integrating seamlessly with existing systems, this feature ensures your compliance is both time-saving and error-free.

  • Efficiency: Automates routine tasks such as calculations and data validation, reducing manual errors and saving time.
  • Integration: Seamlessly integrates with existing payroll and accounting systems for streamlined data flow.
  • Electronic lodgement: Supports electronic filing with the ATO, ensuring compliance with regulatory requirements.
  • Qualifying exempt vehicle: Ensure accurate RFBA reporting for exempt electric vehicles with dedicated fields.

Data management and reporting

Leverage powerful data management and reporting capabilities to handle large volumes of information with ease. Customisable reports and advanced analysis tools provide the insights you need to make informed decisions and maintain compliance.

  • Large volume handling: Capable of importing and managing data from multiple sources, making it ideal for organisations with extensive records.
  • Custom reporting: Offers flexible reporting options, including pre-defined and user-defined reports, to meet specific business needs.
  • Advanced analysis: Provides features like year-on-year analysis and detailed management reports for in-depth insights.


 

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User-friendly features

Experience the ease of a user-friendly interface that simplifies your FBT processes. With intuitive navigation, roll-forward capabilities, and comprehensive support resources, managing FBT compliance has never been more straightforward.

  • Intuitive interface: Designed with a logical and user-friendly approach, making it easy for users to navigate and operate.
  • Roll-forward capability: Automatically carries forward relevant data from previous years, simplifying annual FBT preparation.
  • Comprehensive support: Includes detailed tax technical commentary and checklists to assist users in compliance processes.

Frequently asked questions

What are the benefits of using ONESOURCE Fringe Benefits Tax for my organisation?

Using ONESOURCE FBT enhances operational efficiency by automating routine tasks, reducing errors, and ensuring compliance. It saves time and resources, allowing your organisation to focus on strategic goals.
How does the FBT solution ensure accuracy in reporting and compliance?

The solution ensures accuracy through automated calculations, comprehensive data validations, and integrity checks, which help maintain precise and compliant FBT reporting.
What support does ONESOURCE FBT provide for electronic lodgement and ATO compliance?

The solution supports ATO-compliant electronic filing, simplifying the submission process and ensuring your organisation meets all regulatory requirements seamlessly.
How does ONESOURCE FBT integrate with existing payroll and accounting systems?

ONESOURCE FBT integrates smoothly with existing payroll and accounting systems, facilitating efficient data flow and ensuring that all relevant financial information is accurately consolidated.
How can I customise reports and data imports with the ONESOURCE solution?

ONESOURCE allows for user-defined reports and data imports, giving you the flexibility to tailor outputs and inputs to meet your specific business needs and preferences.