The following are the calculation rates for the FBT year 1 April 2015 to 31 March 2016.
Tax rate
49.0%
Benchmark interest rate
5.65%
The benchmark interest rate is also known as the statutory interest rate. You use it when calculating loan fringe benefits and the interest component for the car operating cost method.
Housing indexation figures (non-remote)
ACT 0.989
NSW 1.032
NT 1.043
QLD 1.022
SA 1.020
TAS 1.011
VIC 1.020
WA 1.028
Private use of motor vehicle other than a car
Where a vehicle is used extensively for business, use the following rates to calculate the taxable value of a residual fringe benefit from the private use of a motor vehicle other than a car. Calculate the fringe benefit’s taxable value on a cents-per-kilometre basis.
Engine capacity – rates per kilometre
Engine capacity |
Rates per kilometre |
|---|---|
0 to 2,500cc |
51 cents |
Over 2,500cc |
61 cents |
Motorcycles |
15 cents |
Car parking threshold
$8.37
Step-by-step instructions including examples from a completed return to help you complete each item in the Fringe benefits tax (FBT) return 2016.