How to Calculate FBT on Cars

[@trentinrodriguez4620]

Never thought I’d binge watch accounting/tax videos , but here we are 😳😂. Thankyou for this very helpful information 👌

[@Down-South]

Thanks for the explanation. If employees choose to pay employee contributions which both give rise to nil taxable value, then it will be much easier to use SFM to calculate FBT for employers.

[@williamveramendi7738]

Thank you very much Derek. Your video is the best explaining car FBT and it help me a lot for my checking of my FBT calculations. My accountant of 20 years plus doing my returns was not able to help me. Thank you.

[@yinggao4885]

This whole set of calculations is really helpful for me to understand. Great effort! Great video!

[@TwelveAccounting]

Great to hear!

[@imakethings17]

Great webinar, as always. I'd love you to do a webinar on whether or not it makes sense for the company to buy a spouse/child a vehicle with 90%+ private use (ie little/no work usage), as I'm sure you get asked that a lot!

[@TwelveAccounting]

i'm going to do a video on "should i buy a car in company name or my name?" very soon. there will be a tipping point, based on the private use of the car that will give the answer. Spoiler alert, it will be a lot less than 90% private. derek

[@NareshBhatt7]

Hi Derek , I am your big fan. Love from India.

[@chanakaabeytunga6042]

Thank you very much ❤, l learn a lot from you. Nicely presented and all the essentials are included. Really appreciated 👍

[@IvonnePerez-yt4zx]

Thank you I really enjoyed this video, very well explained

[@yuli8390]

much appreciated!

[@freakybeast5068]

Great video. Thanks for the content. I am confused by it all, though. I am looking at a novated lease for an EV through my government department that i work for. Is the gross up method type 2 applied to the EV lease for me at the end of the year? Or because its a lease, does the government department do the type 1 gross up and i still have to report the FBT at the end of the year? Also is the GST still factored in on the vehicle cost with the EV novated lease?