FBT

Question 1

What is an FBT?

Answer 1

Excluded Income of an employee

Non-cash benefits

Question 2

What are the classified benefits?

Answer 2

Private use of Vehicle
Low-interest employment-related loan
Contribution to schemes

Question 3

What are unclassified benefits?

Answer 3

Other benefits not classified

Question 4

When are Vehicles an FBT?

Answer 4

When available for private us
Excludes
- When on call
- When used for business travel
- Work-related

Question 5

What is vehicle Private use?

Answer 5

• Travel Between work and home
• Travel of private benefit
• Availability - Not required to use

Question 6

What is a work Related vehicle?

Answer 6

Not a car

• Not designed to carry people
• Not vehicle with rear doors/ collapsable seats
• Permanently displays employers logo

Question 7

What is the taxable value of benefits?

Answer 7

The market value of benefit LESS employee contribution

Question 8

What is the value of the motor vehicle?

Answer 8

5% per quarter or 20% per year of cost
OR
9% per quarter or 30% per year of Tax value
Minimum $8,333