Benefits assigned to former employees

Modified on Tue, 10 Jun at 12:50 PM

Overview

If you’re still providing benefits to former employees, you must continue to pay Fringe benefit tax (FBT) on those benefits. In TaxLab, you must add a departed date to an employee record, then you can assign any benefits to the Former employee pool. This can be done individually or by bulk updating multiple benefits at once, which ensures the correct FBT treatment of any relevant benefits.

How to add a departed date to former employee(s)

The first step in this process is ensuring that all the relevant employee records have a departed date correctly assigned to them. This can be done in two ways, both accessed under Workpapers > Employees:

Import employee departed date(s)

Prepare your employee IDs and departed dates in a spreadsheet using the column headers employee_id and date_departed.
Select and copy the data from the spreadsheet (including the column headings).
In Workpapers > Employees > Select Import.
Paste the data into the Import Benefits popup window.
Select Import.

Manually in bulk or individually

Select the checkbox next to the relevant employee records
Select Edit.
Enter a departed date, then select an area outside of the field (still within the edit box).
Select Save.

How to assign benefits to the former employee pool

The software automatically detects any benefits assigned to an employee after their departed date and includes them in a sense check report. From this report, you can bulk assign the relevant benefits to the Former employee pool to ensure the correct FBT rates are applied.

In the navigation bar, select Workpapers > under Analysis > select Sense Checks.
Select the Full year tab > select Benefits Attributed to Former Employees.
Select the checkbox next to the relevant benefits, or in the header row to select all benefits listed on the screen.
Select Edit.
In the Treatment field select Former Employee from the dropdown menu.
Select Save changes.

Add or edit an employee

View and edit benefits