• Allocating taxable value

    Where a car is used privately by only one employee during the FBT year, the taxable value of the benefit must be allocated to that employee. Where a car is used privately by a number of employees at different times during the FBT year, including being home-garaged by those employees, the taxable value of the benefit is not reportable on those employees' payment summaries and may not need to be allocated to those employees from 1 April 2007 onwards. However, FBT is still payable on the private use of the vehicle.

    Before 1 April 2007, where a car was used privately by a number of different employees during the FBT year, the taxable value of the benefit had to be allocated to those employees.

      Last modified: 17 Jul 2012QC 21998