Frequently Asked Questions
How can I order a FBT car parking valuation report?
How long does it take to receive my report?
How much does a FBT valuation report cost?
Can I salary package a car parking space?
What is the current daily FBT car parking rate liability threshold?
How does FBTme determine the value of a car parking benefit?
How do we source car parking rates for you?
What information does FBTme require to prepare a report?
How do we know if we've paid too much FBT historically?
Are there other ways to reduce the FBT liability?
We didn't pay FBT on our car parking last year, do we need to worry?
How do we measure the 1 kilometre radius?
We don't know who parks in what spaces, how often and for how long?
My accountant reviews our annual FBT return, therefore the FBT liability should be correct?
How can I order a FBT car parking valuation report?
There are 2 ways you can order your report.
- Online via our secure payment page for single locations. Accepts Visa, Mastercard, AMEX and is operated by PayPal, the world's most trusted Payment Processor. Go to the Online Ordering page
- Contact us if you want to discuss options or you have multiple locations
How long does it take to receive my report?
Our standard turnaround time once we receive all information and payment is 5 business days. Urgent or Express reports can be arranged for an additional fee. Please mention this when ordering.
How much does a FBT valuation report cost?
Our fees will depend on the following;
- Number of locations
- Valuation method requested
Standard reports are $449 ex.GST per location. Volume discounts can be arranged for multiple locations for as low as $330 ex.GST. Contact us for a quote.
Earlybird pricing is available for $399 ex.GST between 1st January - 31st March.
Can I salary package a car parking space?
In virtually all cases, packaging of a car parking space creates savings for the employee and their employer.
What is the current daily FBT car parking rate liability threshold?
The threshold for the 2012/2013 FBT year is $7.83. The threshold for the 2011/2012 FBT year was $7.71 per day. Also newly released the 2013/14 threshold is $8.03)
How does FBTme determine the value of a car parking benefit?
We source rates based on two valuation methods:
- Daily commercial parking station
- Average cost at 1 April and 31 March.
If necessary we can obtain a market valuation.
How do we source car parking rates for you?
We have access to a purpose built FBT valuation platform that is automated to source the best rates on a daily basis across Australia. We are powered by CarParking.info which is Australia's leading independent consumer parking search service however we get full access to their database including all the unpublished rates so we can deliver you the most appropriate rate for FBT purposes.
Companies (including ASX100 through to small businesses), Accounting firms and Government organisations request our car parking rates services.
What information does FBTme require to prepare a report?
We require addresses of all business locations and addresses of all employer provided parking in respect of those locations.
How do we know if we've paid too much FBT historically?
Let us check for you.
We can also arrange for the processing of the FBT refund on your behalf – that shows you how confident we are in the quality of our Car Parking Rates reports. All refunds are approved and usually released by the ATO within 28 days.
If you've paid too much FBT on car parking, there's a good chance you've paid too much FBT in other benefit categories, examples being entertainment, in-house benefits and relocation expenses. Let us take a look. Contact us today.
Are there other ways to reduce the FBT liability?
Definitely. In our experience the use of a 12 week register will reduce the FBT liability significantly and once completed it is valid for 5 years. Another common way to reduce the FBT liability is by regular tracking of "no benefit" days. Talk to us about ways to reduce your FBT liability further.
We didn't pay FBT on our car parking last year, do we need to worry?
A proper review and survey is required to determine if a FBT liability exists. Even if last year's treatment is correct, this year may be a completely different story. Therefore, a proper review and survey is recommended each year.
Is it true that shopping centre car parks, hospital car parks and special event car parks should be ignored when considering FBT?
YES and NO.
Often these types of car parking facilities do not fall within the definition of a commercial parking station, however it pays to check, and you should never assume FBT is not payable.
Importantly, you need to be careful if you provide parking to your employees within one of these facilities, as FBT is likely to apply.
How do we measure the 1 kilometre radius?
The measurement is based on the shortest practical route from the entrance of the employer provided car park and the entrance to the commercial parking station. Therefore, a proper survey is required to determine an accurate measurement. Often this requires more than one measurement.
We don't know who parks in what spaces, how often and for how long?
Potentially you could be paying too much or too little FBT. A review will help to determine the correct amount of FBT payable, and more importantly, will identify available savings.
My accountant reviews our annual FBT return, therefore the FBT liability should be correct?
It will depend on the scope of the review and whether your accountant has reviewed the car parking data and calculations in detail.
