Ah, the dreaded company car tax, the financial speed bump for anyone lucky enough to have a company vehicle. In Australia, this is generally referred to as Fringe Benefits Tax (FBT) on company cars. It’s calculated based on the car’s value and how much it’s used for private purposes, with rates that can make your wallet weep.
The Australian Taxation Office sets the rules, and the tax can be a hefty percentage of the car’s base value annually. Employers usually bear the cost, but it can affect your salary packaging and take-home pay. For those hunting for company cars, keep an eye on how FBT impacts the total cost of ownership—it’s not just about the sticker price.
For the nitty-gritty, check official ATO guidelines, or seek advice from tax pros. And if you’re browsing for company cars, Tradingpost and CarShowroom might have some tempting options that factor in FBT considerations.
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