2010 FBT Cars Benefits Checklist

Car Fringe Benefit If you supply a vehicle to an employee or associate then the employer may have to pay Fringe Benefits Tax.Some vehicles are exempt, eg: 1 tonne carrying capacity and larger passenger vehicles, but if the car is available for private use and was garaged other than at the employer’s premises and the employee had custody or control of the car outside working hours (even if the car was parked at the airport while the employee is travelling interstate or overseas) then the cost of this benefit will be subject to FBT at about $1 in the $1.

Download a great 5 page checklist that covers all of the key issues concerning FBT when providing a car to your employees.Click hereto download the PDF

This is just the tip of the iceberg though. If you require any additional information call the office on (03) 9585 7555 and ask for Noel or Amanda, orcontact us by email.