FBT for cars - 31 March 2025 Calculator

The new 2025 FBT calculator is now available. Features added this year are:

1. There is a new Employer Declaration that needs to be signed by any employer that provides Utilities for employees and those employees sign the Minimal Use Declaration.

2. The Employer Declaration ensures the employer has written policies around monitoring minimal private use of the utility by the employee and that the employer is satisfied with the employee’s declaration.

3. I’ve added a note to remind all that the rules on Electric Vehicles (EV’s) changed on 01 April 2025.

4. I’ve added a note to remind all that if you are going to estimate fuel use in the Operating Cost method, the estimate needs to be made in accordance with the relevant ATO ruling,

5. I’ve added a note to remind all that if an employee is contributing to the FBT value by paying for their own fuel, any estimated fuel cost needs to be made in accordance with the relevant ATO ruling,

6. The deemed interest rate, the current quarterly super contribution maximum amount, the EV cost limit and FBT rate per kilometre for motor cycles etc, have all also been updated.

Quick, simple and easy to use, it has the following features from last year:

1. It allows for up to 10 employees (you can hide the columns that don't apply,
2. It automatically calculates the FB regardless of when the vehicle was acquired, ie for pre May 2011 vehicles,
3. It allows for Electric Vehicles calculating the Reportable Fringe Benefit, 
4. It uses two ways to check if a log book is valid based on the log book dates,
5. It alerts the user to tell your client they need to keep a new log book now, 
6. It allows for non-car vehicles such as motor bikes and vespas,
7. It allows for three different types of FB reimbursement,
8. It calculates the Type 1 or Type 2 Gross up needed for the FBT return,
9. It calculates the Gross up needed for Payment Summaries,
10. It summarises the FB reimbursed (if any) to agree to the financial statements,
11. It contains warning messages to alert you to incorrect data entered and 
    
12. It allows you to enter hyperlinks to source documents.

However the true value of this calculator is where it calculates whether it is better to cash in the FB or to actually pay the FBT. This allows you to work with your clients to discuss which way is the better way for employer and employee.

Finally we include an Australian Taxation Office (ATO) approved declaration for employees who drive exempt vehicles to complete and sign and we include a written nomination form when an employee changes vehicle but wants to use the existing log book.