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FBT - easiest way to handle

Discussion in 'Accounting, Tax & Legal' started by SH, 19th Aug, 2013.

  1. SH

    SH Member

    Joined:
    26th Oct, 2008
    Posts:
    10
    Location:
    Sydney, NSW
    Hi

    Quick question re FBT.

    What is the simplest way to deal with FBT if a log book has been kept and the log book shows 90% business use (ie 10% private use) on less than 10,000 km per year. For example, can the company choose to claim only 90% of the running costs/expenses re the car, or is there still a need to register for FBT, record it and pay in the BAS statements etc? We'd like the easiest possible way to handle the issue properly.

    Many thanks