By capturing odometer readings and all fleet expenditure, Smartfleet will calculate and track all operating costs. We will then perform a comparison between Operating Cost and Statutory Formula methods for each vehicle subject to FBT, so that you are paying the lowest amount possible.
Real-time tracking will provide warning of any vehicles in danger of jumping tax brackets, as well as those about to fall back to a lower bracket. Comprehensive reporting monitored by Smartfleet will minimise your organisations FBT exposure.
A comparison between Operating Cost Method and Statutory Formula will be conducted by Smartfleet to ensure you are using the most favourable method for each vehicle.
An FBT tracking report is provided, detailing the number of kilometres currently being travelled, and the recommended number of extra kilometres that should be travelled until the end of the FBT year to reduce any FBT payable.
When purchasing any new vehicles for your fleet, Smartfleet will project potential FBT costs (based on Statutory Formula) for your consideration.