If you use your company or trust-owned car for private use then it may be subject to Fringe Benefits Tax (FBT) or you need to bring an FBT recoupment to account.

So how do you know if your vehicle is subject to FBT? 

As an employer, you may have an FBT liability if you provide an employee (including yourself or a fellow director) with private use of a:

• - a passenger vehicle designed to carry less than 9 passengers (including the driver), including a 4-wheel-drive vehicle, but excluding a motorbike.
• - an eligible commercial vehicle, where the use exceeds limited private use (limited private use of an eligible commercial vehicle may be exempt)
•  

Read the full detail here - What is car fringe benefit?

If you are unsure if your car is subject to FBT or not, then contact us.

Disclaimer: This information is general in nature and is not an opinion expressed by us. So, before acting on this or any other information, it is important to seek professional advice related directly to you and your circumstances.  Should you require our assistance, contact your Primarius Team leader, or email us at info@primarius.net.au