FBT on cars – what the change really means

Co-founder of the Switzer Report
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This article has nothing to do with superannuation – unless you are a shareholder in the McMillan Shakespeare Group or possibly carsales.com.

However, because the reporting of the change about how FBT is calculated on motor vehicles provided to staff for their private use has been so bad - and there is so much interest in the subject - I thought I should have a go. In fairness to the press, the Politicians are just as bad. Minister for Everything and Deputy Prime Minister, Mr Albanese, clearly didn’t understand the change when he was interviewed on Lateline on Wednesday.

Here goes.

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