http://www.cargearusa.com/blog/how-can-i-calculate-whether-a-car-fringe-benefit-is-a-minor-benefit/ Fri, 18 May 2012 01:21:35 +0000 http://wordpress.org/?v=2.7 hourly 1 http://www.cargearusa.com/blog/how-can-i-calculate-whether-a-car-fringe-benefit-is-a-minor-benefit/comment-page-1/#comment-5231 Trolley Thu, 14 May 2009 00:49:41 +0000 http://www.cargearusa.com/blog/how-can-i-calculate-whether-a-car-fringe-benefit-is-a-minor-benefit/#comment-5231 The easiest is probably to look at the legislation directly. I'm just working based on my memory - so maybe not 100% accurate. We have 13 types of FB under the FBT legislation - anything that falls under minor is then exempted. Residual FB is actually one of the 13. When calculating motor vehicle benefit, but using cents per km, it actually falls outside FB - the amount needs to be disclosed by the recipient. Strictly speaking, minor is hard - as it has to be irregular and less than $300. Am I making sense at all? The easiest is probably to look at the legislation directly. I’m just working based on my memory - so maybe not 100% accurate.
We have 13 types of FB under the FBT legislation - anything that falls under minor is then exempted. Residual FB is actually one of the 13. When calculating motor vehicle benefit, but using cents per km, it actually falls outside FB - the amount needs to be disclosed by the recipient.
Strictly speaking, minor is hard - as it has to be irregular and less than $300.
Am I making sense at all?

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