Fringe benefits tax (FBT) is a tax employers pay on certain benefits they provide to their employees, such as the use of company vehicles. The FBT year runs from 1 April to 31 March.
The benefit may be in addition to, or part of, their salary or wages package. If you are a director of a company or trust, benefits you receive may be subject to FBT which is separate to income tax and is calculated on the taxable value of the fringe benefits provided.
Using the Ready Track FBT Manager, you can automate this process by having our software automatically calculate each trip driven by each driver, and can automatically split the business and private trips into separate reports using its very mart algorithms, taking into account your organisational working days and times.
Users can also log into our app, view their trips, and change the trip assignment from business to private, and vise versa.
Using our software to automate your FBT claims is 100 approved by the ATO with a Class Ruling (VIEW HERE)
Automated logbooks in the palm of your hands
The ecofleet application is available on both Android and iOS, it is a powerful tool for not only fleet managers, but also to help drivers complete their logbooks, the software will automatically split trips between business and private depending on your preset organisational hours, but in some cases there may be adjustments to be made.
These logbook trips can be adjusted and then sent to an office member to review and authorise before accepting the completed logbook