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.