FBT Exempt Vehicles
As described in the Fringe benefits Tax legislation, a ute is an exempt vehicle.
This basically means, that as long as the vehicle is used for personal use if it is minor, infrequent and irregular, then there is no Fringe Benefits Tax payable on the benefit provide to an employee.
Please look at the ATO website for an up to date list of vehicles that can be counted as a ute according to the ATO.
Please visit the ATO website with the below link to see if your vehicle exempt.
- https://www.ato.gov.au/General/Fringe-benefits-tax-%28FBT%29/In-detail/Exemptions-and-concessions/FBT—exempt-motor-vehicles/?page=1#Overview
For more advice in relation to FBT, exempt vehicles, please give our experts a call on 1300 788 491.
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