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What method of calculating Motor Vehicle FBT does Southgate use?

April 26, 2017calculating fbt method motor southgate vehicle

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What method of calculating Motor Vehicle FBT does Southgate use?

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Southgate uses the Statutory Formula to calculate FBT. This is a commonly used formula for calculating Fringe Benefits Tax where there is not a significant amount of business related travel. The statutory % used depends on the number of kilometres travelled in each FBT year.