FBT Alert – Car Odometer Readings Due
With the FBT year running from 1 April to 31 March, now is the time for businesses to ensure they take the necessary steps to record odometer readings for vehicles being used by employees.
The following Fact Sheet will explain What a Car Fringe Benefit is, along with the methods of calculating the taxable value of the fringe benefit.
- calculating which FBT method yields the lowest taxable value
- reducing your FBT liability to nil; and
- ensuring you keep adequate FBT records
Published : 02 Apr 2014
