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Announcement: Fringe Benefits Tax on vehicles

The Government today announced that the statutory formula method for salary-sacrificed and employer-provided cars will be removed for new contracts entered into after today’s announcement, with effect from 1 April 2014.

Existing contracts that are not varied will continue to have access to the existing statutory rate throughout the contract.

The operating cost method is not affected

Fact Sheet: Office of the Treasurer

9Example 1 – FBT Impact – Govt Announcement 16-07-2013

9Example 2 – FBT Impact – Govt Announcement 16-07-2013