FBT Car Calculator
Calculate Fringe Benefits Tax on a company car using the statutory formula or operating cost method.
Original purchase price including GST and dealer delivery
FBT year runs 1 April to 31 March
Kilometres driven for business purposes
Days the car was available for private use in the FBT year
After-tax amount employee contributes towards car costs
Statutory is simpler. Operating cost requires a logbook.
How It Works
Statutory method: 20% x car cost x (days available / days in year) - employee contribution. Operating cost method: total running costs x private use percentage. Both results are then grossed up and taxed at the FBT rate of 47%.
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Frequently Asked Questions
What is the FBT statutory fraction?
The statutory fraction is a flat 20% regardless of kilometres driven (since 2014). The taxable value is 20% x car's cost price x (days available / 365) minus any employee contribution.
When is the FBT year?
The FBT year runs from 1 April to 31 March โ it is different from the financial year. FBT returns are due by 21 May (or later if lodged through a tax agent).
What is the FBT rate?
The FBT rate for 2024-25 is 47%. This is applied to the grossed-up taxable value. The type 1 gross-up rate (where GST credits are claimed) is 2.0802, and type 2 (no GST credits) is 1.8868.
Which FBT method is better for cars?
If you do high business kilometres (over 70-80%), the operating cost method usually gives a lower FBT liability. If mostly private use, the statutory method may be similar or simpler. You need a valid 12-week logbook for the operating cost method.
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