Is your company vehicle available for private use?

Is your company car available for private use?

company-car-business-tax

Vehicle fringe benefit applies when your business owns or leases a car and makes it available for your employees’ private travel. Don’t forget that directors might also be employees.

Some examples of providing a car fringe benefit include:

  • Employees using the car for private travel, such as travel between work and home.
  • Garaging the car at or near your employees’ home, which makes it available for private use – even if it is not used privately.
 
To help you determine if fringe benefit applies to your company vehicle, contact Access Tax and Accounting today!

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