The Fringe Benefits Tax year ended on the 31st of March and the new tax year has now started.
If you are using a work motor vehicle that is owned by the company for both private and work related reasons, you are required to provide the following information to the ATO.
Odometer reading at the start & end of FBT year including:
- Opening odometer reading | 1 April 1 2017*
- Closing odometer reading | 31 March 2018
- Car make & model
- Registration number
*This date is only applicable to you if the vehicle was used by you at this time. If you received a work vehicle after this date, please record odometer reading at the date of your first use.
As well as odometer readings, we will require logbook details as it provides a 12 week register of the vehicle’s use. If you have any questions about this, please contact us and we will be happy to discuss.
You will be required to provide the number of kilometers driven on the vehicle that were used for business purposes in a percentage amount.
Logbook business percentage ______ %