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The ATO has provided more certainty around the FBT exemption for small business owners that have commercial vehicles and provide these to their employees for work purposes. Home to work, and work to home travel is exempt from Fringe Benefits Tax (49% tax rate on the employer) for commercial vehicles, including ‘incidental’ travel and ‘minor and infrequent’ private travel.  The ATO has watered down some of the restrictions that must be met to have some level of comfort that the ATO won’t pursue employers for FBT where the commercial vehicles meet the exemption criteria set out in their practical guidance PCG 2018/3. A few key points: – it only applies to eligible commercial vehicles – e.g. utes with 1 ton carrying capacity, panel vans, etc (vehicles not designed principally for carrying passengers); – the employer is still required to look at the actual use of the commercial vehicle as the FBT exemption only applies to to ‘home to work, work to home travel’ and ‘inci...

If you earn your income as a truck driver, this information will help you understand the following: income and allowances are indicated you can and cannot claim a work deduction the information that you must keep. When we say: "truck" means a large, heavy vehicle used to transport items or goods "Local driver" means a driver who usually travels in a town or village and who sleeps at home after completing his job "Driver at a short distance": a driver who generally travels between cities and countries but returns home to sleep after finishing work "Long-distance rider" means a driver who sleeps far from home because a long rest break is required at the workplace. Discover the truckers: Income - salary and reimbursement deductions Keeping of data Income - salary and reimbursement The employer will provide a tax return or statement of payments with all your wages, salaries and allowances for the year. Include in your income tax ...