FBT on work vehicles
Coming removal of prior exempt Utes and trucks
Calculate the FBT and ensure you have not already breached the exemption |
Re: FBT on work vehicles
Thanks for explaining, could you please give a bit more clarification on the post, cheers :D
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Re: FBT on work vehicles
Previously work related vehicles were exempt from FBT (Fringe Benefit Tax) on basis they were only used minority for personal use.
This is looking to change shortly with the exemption being removed and hence additional tax liability to be wary of. Very little sympathy to white collar workers driving double cab utes. Especially when most of time its towing a boat or caravan. |
Re: FBT on work vehicles
IRD rules at present are pretty clear that FBT is due by the employer if a work vehicle is 'available' for private use. Whether used or not.
The exemption only really applies if the car is badged up and the employee is 'prohibited' from using the vehicle for personal use; it seems that most must simply do the :fingerscrossed: and ignore it otherwise there wouldn't be half the number of shiny, polished utes out on the road that there are. |
Re: FBT on work vehicles
employers chargeback to employees fbt.
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