How to Calculate FBT on Cars
Вставка
- Опубліковано 10 лют 2025
- In our latest webinar recording, Derek will explain the 2 methods of Calculating FBT (Statutory and Operating cost method, the calculation formulas, and what you need to be aware of as business owners.
#calculatingfbt #companycars #operatingcost #statutorymethod #twelveaccounting
DISCLAIMER
This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any transaction.
Never thought I’d binge watch accounting/tax videos , but here we are 😳😂. Thankyou for this very helpful information 👌
This whole set of calculations is really helpful for me to understand. Great effort! Great video!
Great to hear!
Thank you very much Derek. Your video is the best explaining car FBT and it help me a lot for my checking of my FBT calculations. My accountant of 20 years plus doing my returns was not able to help me. Thank you.
Hi Derek , I am your big fan. Love from India.
Thank you very much ❤, l learn a lot from you. Nicely presented and all the essentials are included. Really appreciated 👍
Thanks for the explanation. If employees choose to pay employee contributions which both give rise to nil taxable value, then it will be much easier to use SFM to calculate FBT for employers.
Great webinar, as always. I'd love you to do a webinar on whether or not it makes sense for the company to buy a spouse/child a vehicle with 90%+ private use (ie little/no work usage), as I'm sure you get asked that a lot!
i'm going to do a video on "should i buy a car in company name or my name?" very soon. there will be a tipping point, based on the private use of the car that will give the answer. Spoiler alert, it will be a lot less than 90% private. derek
Thank you I really enjoyed this video, very well explained
much appreciated!
Can you do a video in Utes over $70,000 for FBT and depreciation please
Great video. Thanks for the content. I am confused by it all, though. I am looking at a novated lease for an EV through my government department that i work for.
Is the gross up method type 2 applied to the EV lease for me at the end of the year?
Or because its a lease, does the government department do the type 1 gross up and i still have to report the FBT at the end of the year?
Also is the GST still factored in on the vehicle cost with the EV novated lease?