Fringe benefit calc on use of company vehicle for period less than a month?
By Marc Sevitz · Updated
How do I calculate fringe benefits tax on the use of a company vehicle. The vehicle was received on the 14 Aug 2015.
If there is a maintenance plan included then take the value of the vehicle add VAT, but do not include finance charges and then x 3.25% per month.
No maintenance plan but period is less than a month
You would then apportion it for the days worked. Use 3.5% instead of 3.25%