Just a reminder that the Fringe Benefits Tax year (FBT) runs from the 1st of April to the 31st March. So if you think that you’re going to have items that are subject to FBT, you’ll have to lodge an FBT return for the period ending 31st March 2010.
If you own a company or a trust that owns a vehicle that you use for private purposes, then there’s a handy dandy checklist online which can calculate for you the FBT liability relating to your car. Note that this spreadsheet is only useful if there is a car involved, and if you think your business may be incurring FBT then we recommend you contact us before proceeding, as there may be a way we can help avoid this problem.