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FBT on work vehicles

FBT on work vehicles

Old Jan 29th 2018, 5:43 pm
  #1  
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Default FBT on work vehicles

Coming removal of prior exempt Utes and trucks

Calculate the FBT and ensure you have not already breached the exemption
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Old Jan 30th 2018, 6:49 pm
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Default Re: FBT on work vehicles

Thanks for explaining, could you please give a bit more clarification on the post, cheers
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Old Jan 30th 2018, 6:57 pm
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Default 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.
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Old Jan 31st 2018, 5:37 am
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Default 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 and ignore it otherwise there wouldn't be half the number of shiny, polished utes out on the road that there are.
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Old Jan 31st 2018, 6:31 am
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Default Re: FBT on work vehicles

employers chargeback to employees fbt.
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