A quick guide to exemptions from fringe benefit tax on motor vehicles with New Zealand-wide accounting specialists Tutbury & Associates Limited.
A fringe benefit tax (FBT) comes into play when an employer makes a motor vehicle available to an employee, associated persons or shareholder for their private use, even if they do not use the car. However, there are exemptions to this fringe benefit tax which are important to know, according to New Zealand’s premier accounting professionals Tauranga-based Tutbury & Associates Limited. “Sole traders and partners in a partnership do not pay FBT on business