table 3 shows the FBT payable for a vehicle worth $30,000
short for fringe benefit tax
Example sentencesExamples
- The amount of FBT payable is dependent on the distance travelled each FBT year and the price you pay for the car.
- It is possible to reduce your FBT liability to zero.
- The regulation provides an FBT reporting exclusion for some child tuition assistance.
- The private use of employer owned or leased business tools will be exempted from FBT where provided primarily for business purposes.
- Defence pays FBT on a range of benefits provided for personnel stationed in remote localities.
- The absence of an arrangement will mean FBT is not payable.
- All payments are classed as FBT exempt and can be paid from pre-tax dollars.
- One of the most perverse incentives, however, is provided by the statutory formula method of calculating FBT for vehicles.
- The cost of additional fuel and maintenance is likely to be around $1,000 less than the reduction in FBT.