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1. Introduction
Before use, please review the module Set Up details.
The module calculates FBT under Statutory Fraction and Operating Cost methods.
Accurate logs are essential (a log cannot cross two FBT years i.e. start prior to March 30th and end after April 1st)
When you are satisfied that the data is complete and correct, finalise the year to prevent retrospective changes to logs and driver allocation during that FBT year.
The results are calculated for:
•Grossed up Taxable Value
•Reportable Benefit
•FBT Payable under:
•Statutory Fraction Method (SFM)
•Operating Cost Method (OCM)
1.1 Driver Logs
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Drivers may enter their own logs using the
Driver Services option if they are allocated
user right 70.01.
Allocating this right does not affect your licensed user count.
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2. Related/Required Information
FBT relies on data from other modules E.g. driver logs, allocated driver records, commitment date
Only items flagged for FBT and with a "Commitment date" will be included (Fleet>>MMSB Categories and Flags>>Flags)
If the related information is entered correctly and the module has been set up properly, FBT is calculated automatically.
2.1 Multiple Drivers/Vehicles
If multiple drivers use a vehicle, a calculation is done for each driver. Expand the record in FBT>>Fleet View to see all drivers of the item in the FBT year.
If an driver has used multiple vehicles, FBT is calculated for each vehicle. Expand the record in FBT>>Driver View to see all vehicles used by the driver in the FBT year.
2.2 Required Data
In addition to the related reference files the following data must be populated:
2.2.1 FBT Flag and Commitment Date
Fleet>>MMSB Categories and Flags>>Flags
The flag tells AusFleet to include the vehicle in FBT calculations.
The date is used as the start date for the FBT arrangement. It can be the same or different to the delivery date, lease signing or start date
2.2.2 Purchase Price
Fleet>>Purchase & Disposal Lifecycle>>Purchase Price
Used as the base value of the vehicle.
In AusFleet, purchase price is calculated from multiple components. An alternative FBT Base Price can be entered if the calculated price is not correct.
2.2.3 Employee Contribution
Fleet>>Ownership & Allocation>>Employee Contribution
Employee contribution can reduce the FBT liability.
2.2.4 Logs (private/business days and km)
Fleet>>Odometer Hours and Logs>>Log Transactions
Logs can be added using the Add Log icon, the Logs module or Fleet>>Odometer, Hours & Logs.
The logs module is optional and must be licensed separately.
See also: Logs Module
2.2.5 Driver/Vehicle Allocation Dates
Fleet>>Ownership and Allocation>>Item Allocation
3. FBT Driver View
Driver View and Fleet View are converse views of the same information.
Driver View shows each driver that has an FBT liability by using a vehicle flagged for FBT (Fleet>>MMSB Categories and Flags).
Expand a driver record to see recorded details.
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4. Fleet View
The converse of the Driver View, showing results by asset.
Expanding a vehicle record shows all drivers who have record logs for the vehicle in the FBT year with their calculations.
FBT Results Listed by Fleet Item
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Zoom Button Opens FBT Details for the Driver
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5. Private Days & Private Use Percentage - The Twelve Week Log Book Rule
Private use percentage can be calculated using 12 weeks of logs.
In Logs module, when at least 12 weeks have been recorded, tick any start and end date within the same FBT to calculate the private percentage in that period.
See also: Logs Private Use %
6. Private Days
When submitting logs the number of private days within the period is entered and this is used to calculate the number of private days.
Private days are usually those when the vehicle was available for private use, whether or not it was used for private purposes.
7. Finalising an FBT Year
Finalisation cannot be undone! Ensure all records are correct prior to finalising!
When records are complete and accurate, the FBT year can be finalised
Finalise one or more vehicles using the tick boxes in the left column, or use the "Select All/None" box at the top
Finalisation makes related data within the FBT year non-editable to ensure there is a matching dataset for audit purposes. This includes:
•Driver allocation
•Commitment date
•Logs
•Private days
•Private use %
•Employee contribution
•Reference values
Once finalised, records can be exported for submission using the Export button.
End of Chapter
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