Concessions for vehicles ‘stored’ at an employee’s home during COVID-19 period
Where a “car” or “motor vehicle” (not a car) is exempt the concessions are not applicable.
To access concessions:
* Employer must use the ‘operating cost’ method.
* Employer must elect in writing to use the ‘operating cost method’ before lodging FBT return.
* An employee garaged the car at their home over all or part of the FBT year.
* During the garaged period the car was not driven at all or only for maintenance.
* Odometer records must be maintained to evidence not driven or only briefly for maintenance.
The concession allows operating costs for the period to be excluded if incurred during or attributable to that period and for business use percentage purposes the employer is permitted to ignore the ‘concessional period’.
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