Yes, it’s true. Sort of, kind of anyway! Some of you are now eligible to have a company car without the sting of paying Fringe benefit tax (FBT) on it. Nothing’s quite that simple though especially when it comes to the intricacies of tax legislation and there are, of course, a whole string of eligibility requirements. We’ll cover a few of them below but this type of thing is complex and riddled with fish hooks so it’s well worth having your Chartered Accountant review your situation properly before you do anything rash.
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