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FBT - Multiple Motor Vehicles

Initiate

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Replies 2

Probably a silly question, but I can't find an answer anywhere else

 

We have multiple motor vehicles, some have an FBT Liability, whilst others have a negative FBT Liability (i.e. the employee contribution is greater than the liability).

 

When completing the FBT return, can we offset the FBT credits from one employee, against the FBT liability for another?

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Most helpful response

Devotee

Replies 1

The way the FBT legislation is written does not allow you to transfer excess employee contributions to a benefit given to another employee.

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Most helpful response

Devotee

Replies 1

The way the FBT legislation is written does not allow you to transfer excess employee contributions to a benefit given to another employee.

Initiate

Replies 0

Thanks for your prompt response Glenn, I assumed that was the case Smiley Happy