Fringe Benefit Tax Reporting

Accurate FBT reporting without the administration hassle

FBT reporting that integrates with your already deployed Smartrak solutions for easy and accurate compliance
Reduced administration with automated report compilation
Provides accurate reporting for FBT purposes
Available to all Smartrak customers with PoolCar and/or vehicle tracking
Australian Tax Office compliant
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Remove the admin hassle around FBT reporting

Ensuring your organisation is meeting its reporting and compliance requirements can be an administrative burden. Smartrak has a variety of products and reports that are designed to make these compliance and financial processes more accurate and less time-consuming for managers, including the ability to provide evidence-based Fringe Benefit Tax (FBT) claims.

Fringe Benefit Tax is a tax an organisation pays on non-cash benefits provided to employees, which can include the use of a company vehicle for personal use. Smartrak helps customers to meet their FBT reporting on vehicles in two ways:

  1. By leveraging the data that’s collected via telematics (tracking)
  2. By using the booking information in PoolCar, with or without telematics
Smartrak customers who utilise the reports produced by any of these methods are able to input the data directly into their FBT reporting obligations.

Our customers

Fringe Benefit Tax Reporting
Product Features

How it works

With the telematics only option, Smartrak recognises that a vehicle is being used outside of the working week (at the weekend) or is outside its base location overnight and flags that vehicle use as subject to FBT. If PoolCar is the data source (with or without tracking), FBT-relevant use is triggered by marking the booking as ‘Private/Personal Use’. For organisations using PoolCar without telematics, there is a requirement to manually input odometer readings into the FBT reports. If you have telematics onboard, this is done automatically.

A better way to manage FBT reporting

The move to automated, digital log booking provides numerous benefits to your business, especially in companies with large pools of vehicles subject to FBT. The FBT liability of vehicles provided as part of an employment package can now be calculated and recorded much more easily. For example, organisations in Australia would not need to utilise statutory fraction to determine FBT liability.

On either side of the Tasman, utilising Smartrak’s tools for FBT reporting will often save your business thousands of dollars per vehicle. Automated digital logbooks also remove the need to keep manual, usually handwritten, logbooks for every vehicle. In companies with larger fleet sizes, the manual method usually results in the cost of additional employees to manage the record keeping and transcribing of these logs.

Recognised by the Australian Tax Office

In conducting a class ruling (CR 2016/44) the Australian Tax Office (ATO) has legally authorised:
  • Smartrak virtual odometer records are acceptable when it comes to recording vehicle odometer readings for all vehicle trips.
  • The logbook trip reporting (PoolCar) is an accredited report for declaring the detail and summary of both private and business travel.

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We're happy to answer any questions you have to help you find the right solution. fill out the form below and we'll be in contact shortly