Award-winning software’s logbook feature satisfies ATO’s requirements for calculating Fringe Benefits Tax following class ruling.
Melbourne, Australia, February 24, 2020 – Smartrak, an industry-leading provider of mobility, fleet management, and telematics solutions, announced today that its PoolCar booking system has been granted a Class Ruling for the use of Fringe Benefits Tax (FBT) reporting. In the ruling, the Australian Tax Office observed that PoolCar’s logbook feature satisfies the definition of “logbook records” for the purpose of claiming FBT.
When integrated with telematics, PoolCar tracks staff journeys and allocates the odometer readings to those vehicle’s trips. Coupled with the ability to allocate the percentage of work and personal use across a journey, PoolCar is now approved for use as evidence when claiming FBT.
“This is fantastic news for our current and prospective Australian customers,” said Peter Grant, Smartrak’s CEO. “Smartrak’s PoolCar logbook will empower organisations to more easily make accurate and compliant FBT claims, allowing them to focus their valuable time on managing their fleet and less on administration.”
The logbook feature is a default report within PoolCar and is immediately available to all current PoolCar users. To leverage the report for FBT, Smartrak offers a range of GPS devices, or can also integrate a fleet’s existing GPS data to enable the essential automated odometer readings.
More information about the PoolCar booking solution and its integrated offerings can be found on Smartrak’s website.
Smartrak creates fleet and mobility technologies that enables the public sector, utilities, not for profit and emergency services to manage and protect their most valued assets (people, vehicles, and assets).
Operating across Australia, New Zealand, and the United States, Smartrak makes location-based insights visible and actionable so that these organisations can deliver on their promises to the communities they serve; safely, productively, and cost-effectively.
Smartrak is an independently operated subsidiary of Constellation Software (CSI), a leading provider of software and services to public and private sector markets.