FBT Return Preparer

What is the NTAA's 2008 FBT Return Preparer software?

The 2008 FBT Return Preparer software provides a copy of the 2008 FBT Return that can be lodged with the ATO.

It calculates the taxable value on each of the 14 types of fringe benefits and provides "audit proof" worksheets that verify all of your FBT calculations. It is a "must" for everyone involved in the preparation of the FBT Return!

The 2008 FBT Return Return Preparer will be available late February 2008.

Features of the NTAA's 2008 FBT Return Preparer

• Slashes the time taken to prepare the FBT return
• Fully registered with the ATO
• Automatically prepares the entire FBT return (for lodgment with the ATO) and calculates the FBT liability
• Aggregates the values of each type of benefit and enters it into the 2008 FBT return
• Calculates the taxable value of each benefit provided to employees
• Calculates the taxable value of cars under the Statutory formula and Operating cost methods
• Calculates the value of all reportable benefits for employees' payment summaries and reconciles them back to the FBT return
• Deals with taxable, exempt and rebatable employers
• Provides "audit-proof" worksheets and reports including:

  – the taxable value of benefits for each employee;

  – a summary report allocating reportable benefits;

  – a report allocating shared benefits (e.g., pooled cars);

  – personalised reports that explain how the reportable amount was calculated for employees; and

  – "otherwise deductible" declarations with relevant information transferred from the worksheets.

• Imports information from one FBT year to the next – i.e., firm details, employee names, car details, closing kms, etc.

Who will benefit from using the software?

• Tax Practitioners
• Bookkeepers
• Salary Packaging Specialists
• Financial Controllers
• Company Accountants
• Payroll Officers
• HR Personnel
• Accountants in industry
• All staff involved in preparing the FBT return and payment summaries

FBT Seminar 2008 attendees receive the FBT Return Preparer FREE!!

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