Changes to FBT rules

[zilo]

Originally Posted by KIWI-1

Don't have a problem with that but why should this be FBT exempt?
"An electrical company employee takes the company van (carrying capacity of less than one tonne) home each night because there is no security at the company premises. The only non-work-related use during the FBT year was a trip to pick up some furniture and take it to the employee's home – this use of the van would be exempt from FBT."

I haven't heard of this example....but that's not to say I am an expert..

But in my opinion...any FBT would be payable by the employer as the employee is providing a daily storage service to secure the vehicle.

Sounds like it may be an example of common sense and mitigation of loss to both employer and tax office against potential theft/vandalism etc.

[MAD]

Originally Posted by gtfpv

ok mr if you cant afford electricity turn the lights off and dont worry . sweet as .

It won't get to that, I'm not up to my eyeballs in debt. Thanks for your concern.

[jimmyxr6t04]

Originally Posted by MAD

I love when people who invest in things and claim the costs against their tax, then try to justify it as doing a favour for everyone else. Houses for rent, keeping car turnover going.

And geez having a sook on paying to get to work. Are you effin serious?! Where were my deductions for driving an hour and a half to uni everyday? If you don't like tolls, leave home earlier or find another job that is closer to home.

I won't speak for others, but I don't claim i'm doing anyone else a favour but myself... If you can't look out for yourself, who will? Although, the mother in law who can't afford to buy her own house does rent my investment property at a slightly lesser rate... So, i suppose i am doing her a favour and in turn she does me a favour by being a fantastic tennant, and looking after my house. Without people who invest in property, people might actually have to save enough money to buy a house... Too far off topic by getting into the reasons why people choose rent over buying, but landlords have their place in society. If they get a tax benefit from this, so be it... We are also liable for income tax on the rent receieved, then capital gains tax upon selling... Plus up front stamp duty and other fees. Not all rosey.

A novated lease also helps the world go round. People buy cars, even if we don't exactly 'need' them... This has a flow on of benefits... At my job alone, i know of at least 20 people who have a novated lease... There'd be more too, so there's going to be a big drop of new car turn over with the new FBT rules.

Seriously, the 5k i save on tax for my car is not worth leasing the car, i could put it to much better use... BUT, we feel as though it's enough of a saving to warrant that warm fuzzy feeling of a new car every 2-3 years. With no incentive to lease a car, i won't. I may still buy a car every 2-3 years, but i doubt it... Having said, perhaps a positive will be better trade in values, so i might still upgrade.... but when it's tangible cash i see leaving my bank account, it's less likely.

[AU1XLS]

Well I think we are done here