There are a number of data items required to calculate the taxable value of a car fringe benefit. For vehicles that are managed by a fleet provider, some vehicle data and FBT data will usually be collated by the fleet provider. However, to assist with FBT reporting, entities may still be required to undertake a number of tasks, such as:
- reviewing the data collated by the fleet provider for accuracy, including reviewing odometer records
- providing log books to employees to track employee use of the vehicle
- managing the fleet to meet operational requirements (for example, ordering cars, returning cars and transferring cars between employees).
Figure 4: sample record from a logbook