Is Your Business Vehicle Creating an FBT Obligation?

A quick reminder—if your business owns a vehicle and it’s also used for personal trips (even occasionally), you may need to be registered for Fringe Benefits Tax (FBT).

Many business owners don’t realise that simply having a company-owned car available for private use can create an FBT obligation.

If you’re not sure whether this applies to you, get in touch with our team. We’re happy to review your situation, let you know if FBT registration is required, and help you stay compliant before it becomes an issue.

How do I register for FBT?

The easiest option is to have us take care of it for you. We can determine whether registration is required and register your business with the ATO on your behalf.

If you prefer to register yourself, you can do so by contacting the ATO, or by completing and lodging the paper form “Application to Register for Fringe Benefits Tax” – https://www.ato.gov.au/forms-and-instructions/fringe-benefits-tax-registration

If you think this might apply to your business, don’t leave it until tax time—reach out and we’ll point you in the right direction.

Author

May Aung