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Fringe benefit calc on use of company vehicle for period less than a month?



SHARON said:
17 August 2015 at 11:13

How do I calculate fringe benefits tax on the use of a company vehicle. The vehicle was received on the 14 Aug 2015.

TaxTim Marc TaxTim Marc said:
17 August 2015 at 16:51

If there is a maintenance plan included then take the value of the vehicle add VAT, but do not include finance charges and then x 3.25% per month.

SHARON said:
17 August 2015 at 17:06

No maintenance plan but period is less than a month

TaxTim Marc TaxTim Marc said:
17 August 2015 at 17:13

You would then apportion it for the days worked. Use 3.5% instead of 3.25%

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