FLEETDRIVE
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Know The Rules of FBT
FBT is paid by employers on certain benefits they provide to their employees or their employees ’ family or other associates . FBT applies even if the benefit is provided by a third party under an arrangement with the employer . FBT is separate to income tax and is calculated on the taxable value of the fringe benefit . The employer must self-assess their FBT liability for the FBT year ( that is , 1 April to 31 March ) and lodge an FBT return . Keep up to date with any changes by looking regularly at the
ATO website .
4
Automate your FBT obligations
Fringe benefits tax compliance is still a highly manual process in many organisations . The review of internal general ledger , payroll , expense system data and third-party information is often a time consuming and arduous process . The demanding time pressures surrounding the FBT return lodgement take a toll on resources and the organisation ’ s competing priorities . Utilising tax tools such as
KPMG ’ s FBT Automator can help make your FBT return preparations a whole lot easier .
FLEETS AHEAD OF THE REST
Whether you ’ re a sole operator , or leading a large team , with Mazda ’ s Small , and Large BT-50 Complete Fleet program , your business can enjoy a range of great discounts on any Brand-New Mazda BT-50 . The 3.0L turbo diesel packs 140kW of power and 450Nm of torque , allowing you to tow up to 3,500kg while boasting excellent fuel economy . Throw in the latest advanced safety technologies as standard throughout the range , plenty of comfort and cutting-edge design , plus 5 years Warranty and Roadside Assistance , and you ’ ve got a ute that truly is the Complete Package . See how your business can benefit from the Mazda BT-50 Complete Fleet Program .
To find out more contact your local Mazda Dealer , email bt50fleet @ mazda . com . au or visit mazda . com . au / fleet
ISSUE 29 JUNE 2021 / WWW . AFMA . ORG . AU 7