Car Parking 12 week logbook method calculation

Question

Glenn4802 · Accepted Answer

The formula for calculating the value is shown in section 16.6 on this page. The variable 'A' includes the number of benefits provided during the 12 week period. A benefit arise each time an individual employee is provided with a car parking fringe benefit. For example, if each of the seven employees was provided with a benefit on two days of each week, the number of benefits during the register period would be 7 x 2 x 12 = 168. It is likely that you have also understated the number of days for variable 'B'. Information on the above linked pages states that this might vary for each employee. It is calculated from the first day in the year a benefit is provided to the last date in the year a benefit is provided, regardless of number of days a benefit was provided during that period.

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