FBT Motor vehicles

TABLE OF CONTENTS

• Overview
  • There are two ways to add an entity’s motor vehicles into the system:  
• How to manually add vehicles
• How to manually add drivers
• How to import vehicle or driver data
• Roll drivers over from the previous quarter
• Troubleshooting
• What's next?

Overview

This article explains how to add and manage motor vehicles and drivers in TaxLab for Fringe benefit tax (FBT) purposes. Once you add or import motor vehicle and driver data, the software will automatically calculate the benefit value based on the vehicle cost and the number of days each employee (driver) has used each vehicle. This information then flows into the Benefit workpaper and FBT return.

There are two ways to add an entity’s motor vehicles into the system:  

For a small number of vehicles, these can be manually added to the system one by one in the first quarter. In subsequent quarters, the vehicles can be rolled over effectively telling the software that the data is the same. You can edit anything that has changed.

For a large number of vehicles and/or drivers, the data can be imported each quarter. Data can be imported either by vehicle or by driver. When drivers are imported, the system automatically updates the vehicles register. Vehicle and driver data are separated for reference purposes but are aggregated for tax calculation any analytics.

TaxLab has a template with column headers for the required data and any additional data that can be imported.

How to manually add vehicles

1. On the Vehicles page, select the relevant Quarter tab.
2. Select the New button.
3. Enter the vehicle details.
4. Select Save.

How to manually add drivers

1. On the Drivers page, click the relevant Quarter tab.
2. Select the New button.
3. In the Search box, start typing the name of the employee you are adding as a driver, then select the employee from the dropdown list.
4. In the Motor vehicle box, start typing the name of the vehicle you are adding the driver to, then select the vehicle from the dropdown list.
5. Enter the number of days the vehicle was available to the driver.
6. Add any other details.
7. Select Save.

How to import vehicle or driver data

1. In Microsoft Excel, prepare your source data to match the requirements of the FBT import template.
2. Select and copy your data (including the column headers).
3. In Taxlab, in the entity’s FBT calculation, open the Vehicles or Drivers page, as required.
4. On the Vehicles / Drivers page, select the relevant Quarter tab.
5. Select the Import button.
6. Click in the pop up box and paste your data.
7. Select Import to [123 tax year] button.

Roll drivers over from the previous quarter

When starting a new quarter, if the drivers remain the same as in the previous quarter, they can be rolled over from that quarter once they are in the software.

1. On the Drivers page, select the Quarter tab, that you want to roll the drivers into.
2. Select the Rollover button.

Troubleshooting

What's next?