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CAR BENEFIT CALCULATOR

INSTRUCTIONS

This calculator was originally designed for Australian use. It will help you to estimate the value of a Car Fringe Benefit within any given salary package. Alternatively, it can be used as a budgeting tool to work out how much an employee has to allow in their package for a car.

  1. Enter the purchase price of the car.
  2. Check that all Assumptions and FBT Rates are correct. If you wish to analyse a different scenario, you may change any of the default values accordingly.
  3. Click once in the "Total Cost" box to calculate your result.

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Enter Data Here
 
  Purchase price of car: $
 
Assumptions
  Finance rate:   %
  Depreciation:   %
  Annual kms:   kms
  Depreciation limit: $
  Replacement period:   years
  Rego and insurance: $
  Company tax rate:   %
  Running cost per km: $
 
FBT Rates
 
  Gross up:  
  FBT rate:   %
  Statutory rate:   %
  Days available:   /365
 
Result
 
  Annual Cost: $
  Fringe Benefits Tax: $
 
  Total Cost $
 

NOTES

  1. Annual cost
    This amount is the annual cost of the vehicle before FBT. It will be particularly relevant if the vehicle is exempt from FBT or the employer decides not to charge FBT to the employee's package.
  2. Total Cost
    This amount is the annual cost of the vehicle plus FBT.
  3. Default Values
    These values are defined in legislation or applicable rulings, otherwise they are based on industry averages.


 


 


 


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