Working out your FBT for vehicles just got easier

We’ve published a new guideline to help you work out your FBT obligations. The new guideline is about the private use of eligible vehicles and whether you can access the FBT car-related exemptions.

The guideline is designed to help you when:

• You allow employees limited private use of an eligible vehicle that
  • Adds no more than 2 kilometres to their trip between home and work
  • Doesn’t exceed 1,000 kilometres in total for the FBT year (1 April – 31 March), and where any one return journey doesn’t exceed 200 kilometres
• You provide the vehicle to your employees to do their job and it isn’t part of their salary package arrangement, and the value of the vehicle is less than the luxury car tax threshold.

The guideline has examples to show you how it applies and what you need to do. Take the time to read through it and decide if it can work for you.

Contact us at Nexus Tax & Accounting Solutions and we can you with your tax and all FBT related Claims.