tag:blogger.com,1999:blog-778853315576827789.post5424306958401993543..comments2023-08-13T18:14:30.013+10:00Comments on Qingfeng: Novated LeaseQingfenghttp://www.blogger.com/profile/07230203984448285023noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-778853315576827789.post-50689889842780016492009-07-13T13:00:08.832+10:002009-07-13T13:00:08.832+10:00Car cost: 21,000
Gross income: 65,000
Annual KMs: ...Car cost: 21,000<br />Gross income: 65,000<br />Annual KMs: 40,000<br /><br />FBT Taxable Value = $21,000 * 11% = $2,310<br />Tax saving = Car cost * tax rate = $21,000 * 30% = $6,300<br /><br />Full FBT Employer:<br />FBT liability = Fringe Benefit Taxable Value * Gross Up rate * Fringe Benefit Tax rate = $2,310 * 2.0647 * 46.5% = $2,218<br />Total saving = $6,300 - $2,218 = $4,082<br /><br />Rebatable FBT Employer:<br />FBT liability = Fringe Benefit Taxable Value * Gross Up rate * Fringe Benefit Tax rate = $2,310 * 2.0647 * 46.5% * 52% = $1,153<br />Total saving = $6,300 - $1,153 = $5,147<br /><br />PBI (17k) or Charity Employer (30k):<br />Gross Up Value = Fringe Benefit Taxable Value * Gross Up rate = $2,310 * 2.0647 = $4,769<br />FBT liability = $0<br />Total saving = $6,300 - $0 = $6,300Qingfenghttps://www.blogger.com/profile/07230203984448285023noreply@blogger.comtag:blogger.com,1999:blog-778853315576827789.post-44419994976356953042009-07-06T21:52:03.144+10:002009-07-06T21:52:03.144+10:00if i am on 65k plus super, would it be worth packa...if i am on 65k plus super, would it be worth packaging a 05 model car for 21k if i plan to do 40,000kms per year?Anonymousnoreply@blogger.com