Fringe Benefit Tax – Motor Vehicles

The IRD has released a helpful booklet in relation to Fringe Benefit Tax (“FBT”) and its application to motor vehicles. FBT arises when an employer makes a motor vehicle available to an employee for private use in connection with their employment.

The booklet provides a clear explanation of what constitutes private use (e.g. travel between home and work versus storing a work vehicle at home for security reasons) and the three exemptions to FBT. The three exemptions include the work-related vehicle exemption, emergency call exemption and business travel exemption.

To access the booklet, please click here

Share:

Share on facebook
Facebook
Share on linkedin
LinkedIn
Share on pinterest
Pinterest
Share on twitter
Twitter

Need Expert Advice?

In a just few minutes we can give you an idea of what to expect from
your situation – and from us.

© 2021 by KM Law Limited