Fringe Benefits Tax – Tax Facts

The following methods could be employed to decrease FBT:

• Encourage employees to contribute towards the cost of the benefit.
• Maintain a logbook.
• For cars acquired before 10 May 2011, increase travel distance to move into a lower statutory fraction bracket.
• Explore the option of acquiring a commercial vehicle, which is exempt from FBT.
• Return the car and keys to the employer during extended periods of non-use, such as holidays.

 

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