Skip to main content

FBT

Geotab Launches Electronic Logbook for Fringe Benefits Tax (FBT) Reporting in Australia

Published on January 29, 2024


Geotab Launches Electronic Logbook for Fringe Benefits Tax (FBT) Reporting in Australia

FBT

SYDNEY, Australia – January 30, 2024 - Geotab, the global leader in telematics technology, is proud to announce the release of its Electronic Logbook specifically designed to meet the needs of  Fringe Benefits Tax (FBT) reporting for businesses in Australia.

 

Fringe Benefits Tax (FBT) is applicable when employees utilise company-owned vehicles for personal use, resulting in a taxable benefit in place of salary or wages. Under Australian taxation law, employers are obligated to pay FBT on such benefits.

 

Australian businesses providing company-owned vehicles to their employees face stringent record-keeping requirements for FBT from maintaining detailed records of motor vehicle usage to submitting reports to the Australian Taxation Office (ATO). This process can be arduous for employers without the proper technology, such as an in-vehicle telematics system.

 

Geotab has developed an Electronic Logbook for FBT as an Add-In in MyGeotab® and the Geotab Drive® mobile application to address the challenges faced by businesses in meeting the FBT reporting requirements. This Add-In feature empowers drivers to categorise their trips for "Business" or "Personal" use, facilitating easy self-assessment of FBT liability and vehicle use records. By leveraging this solution, businesses can efficiently manage their fleets and enhance the accuracy of FBT reporting.

 

In line with industry standards, Geotab Australia Pty. Ltd. successfully obtained ATO Class Ruling CR 2024/2 entitled “Electronic car logbook and odometer record-keeping system” in January 2024. This Ruling instils confidence in customers relying on the system for ATO-compliant FBT reporting, that, when the FBT Report is used in accordance with the terms of the ATO Class Ruling, the ATO will accept the reports as being in compliance with the FBT legislation in respect of car logbook. 

 

"Our Electronic Logbook represents a significant advancement in simplifying FBT reporting for businesses in Australia. Geotab remains committed to providing innovative solutions that enhance fleet management and ensure compliance with regulatory requirements through a user-friendly application," said David Brown, AVP Sales - APAC.

 

To learn more about Geotab's Electronic Logbook for Fringe Benefits Tax, visit https://www.geotab.com/au/fbt/ 


Media Contact

Nicole Riddle

Senior Specialist, Strategic Communications

pr@geotab.com

About Geotab

Geotab, the global leader in connected vehicle and asset solutions, leverages advanced data analytics and AI to enhance fleet performance, safety and sustainability while optimising costs. Backed by a team of industry-leading data scientists, engineers and AI experts, we serve over 50,000 customers across 160 countries, processing billions of data points hourly from more than 4 million vehicles. Data security and privacy are at the forefront of everything we do — trusted by Fortune 500 organisations and some of the largest public sector fleets in the world, we meet top cybersecurity standards. Geotab’s open platform and diverse Geotab Marketplace offers hundreds of fleet-ready third-party solutions. Learn more at www.geotab.com/au, and follow us on LinkedIn or visit our blog.

Related posts

Geota Ace logo on blue and pink background

Geotab Unveils Ace - The First Fully Integrated Trusted Generative AI Copilot in the Industry

Available directly in the MyGeotab platform, Geotab Ace is a generative AI copilot that can provide powerful, customised and trustworthy fleet insights simply by asking a question

February 16, 2024

ABI research names Geotab #1 in video telematics

Geotab #1 in Video Telematics

ABI Research Ranks Geotab as #1 Leader in Commercial Video Telematics

December 6, 2023

4 million subscriptions

Global demand for connected vehicle data grows Geotab’s subscriptions to 4 million

Geotab achieves rapid subscription growth, advancing fleet performance, safety, and sustainability

November 8, 2023

Recent News

person typing on a keyboard

KPMG Australia and Geotab make it easier than ever to claim Fuel Tax Credits

Geotab, the global leader in telematics technology, have announced a new alliance that enables KPMG’s clients to access Geotab technology

April 8, 2024

Geotab 2023 Sustainability and Impact Report cover with green leaf and road

Data Advances Decarbonisation in Connected Transportation: Geotab's Sustainability Report Reveals Progress, Recognises Challenges Ahead

“Trust. Transparency. Transformation.”: Geotab’s annual sustainability report examines the importance of data insights for managing and measuring sustainability goals

April 4, 2024

ATA

Geotab Partners with Australian Trucking Association (ATA) for a Safer, Sustainable Future in Trucking

Geotab is pleased to announce it has become an Australian Trucking Association (ATA) associate member. This partnership is a leap forward in our shared commitment to enhancing the safety, efficiency, and sustainability of the trucking industry in Australia

March 5, 2024

Woman driving a truck in the cab

Geotab Safety Center supports next-generation solutions leveraging AI and predictive collision insights

Geotab Safety Center offers enhanced visibility into fleet risk

February 16, 2024

View last rendered: 07/19/2024 11:35:23