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SOCIAL SECURITY ACT 1991 - SECT 1157L

Value of car fringe benefits

             (1)  This is how to work out the value of a car fringe benefit:

Method statement

Step 1.    Work out the engine capacity of the car and go to the relevant Part of the Car Fringe Benefits Value Table.

Step 2.    Work out how old the car is and go to the appropriate row in the Table.

Step 3.    Work out how many complete months in the appropriate tax year the person had or will have the car fringe benefit and go to the appropriate column in the Table: the number where that row and column intersect is the value of the car fringe benefit .

                   Note:             If the person is a member of a couple, the value of the car fringe benefit is to be halved in certain circumstances (see subsection (3)).

             (2)  The following Table is to be used in working out the value of a car fringe benefit:

 

CAR FRINGE BENEFITS VALUE TABLE

 

PART A--Car engine size up to 1600cc

 

 

 car age

Period of use (completed months)

 

item

(years)

1

2

3

4

5

6

7

8

9

10

11

12

 

1.

1

93.8

188

281

375

469

563

656

750

844

938

1031

1125

 

2.

2

83.6

168

252

336

420

504

588

672

756

840

923.8

1008

 

3.

3

74.2

148

223

297

371

445

520

594

668

742

816.4

890.6

 

4.

4

64.5

129

193

258

322

387

451

516

580

645

709

773.4

 

5.

5

54.7

109

164

219

273

328

383

438

492

547

601.6

656.3

 

6.

6

44.9

89.8

135

180

225

270

314

359

404

449

494.1

539.1

 

7.

7

35.2

70.3

105

141

176

211

246

281

316

352

386.7

421.9

 

8.

8

25.4

50.8

76.2

102

127

152

178

203

229

254

279.3

304.7

 

9.

9

15.6

31.3

46.9

62.5

78.1

93.8

109

125

141

156

171.9

187.5

 

10.

10+

5.86

11.7

17.6

23.4

29.3

35.2

41

46.9

52.7

58.6

64.45

70.31

 

 

 

PART B--Car engine size 1601cc to 2850cc

11.

1

229

458

688

917

1146

1375

1604

1833

2063

2292

2521

2750

 

12.

2

210

422

633

844

1055

1266

1477

1688

1898

2109

2320

2531

 

13.

3

193

385

578

771

964

1156

1349

1542

1734

1927

2120

2313

 

14.

4

174

349

523

698

872

1047

1221

1396

1570

1745

1919

2094

 

15.

5

156

313

469

625

781

938

1094

1250

1406

1563

1719

1875

 

16.

6

138

276

414

552

690

828

966

1104

1242

1380

1518

1656

 

17.

7

120

240

359

479

599

719

839

958

1078

1198

1318

1438

 

18.

8

102

203

305

406

508

609

711

813

914

1016

1117

1219

 

19.

9

83.3

167

250

333

417

500

583

667

750

833

916.7

1000

 

20.

10+

65.1

130

195

260

326

391

456

521

586

651

716.1

781.3

 

 

 

 

PART C--Car engine size more than 2850cc

 

21.

1

354

708

1063

1417

1771

2125

2479

2833

3188

3542

3896

4250

 

22.

2

327

656

984

1313

1641

1969

2297

2625

2953

3281

3609

3938

 

23.

3

302

604

906

1208

1510

1813

2115

2417

2719

3021

3323

3625

 

24.

4

276

552

828

1104

1380

1656

1932

2208

2484

2760

3036

3313

 

25.

5

250

500

750

1000

1250

1500

1750

2000

2250

2500

2750

3000

 

26.

6

224

448

672

896

1120

1344

1568

1792

2016

2240

2464

2688

 

27.

7

198

396

594

792

990

1188

1385

1583

1781

1979

2177

2375

 

28.

8

172

344

516

688

859

1031

1203

1375

1547

1719

1891

2063

 

29.

9

146

292

438

583

729

875

1021

1167

1313

1458

1604

1750

 

30.

10+

120

240

359

479

599

719

839

958

1078

1198

1318

1438

             (3)  If:

                     (a)  the person is a member of a couple; and

                     (b)  the person's partner receives a car fringe benefit in the appropriate tax year; and

                     (c)  the person's and the partner's car fringe benefits relate to the same car;

the value of the car fringe benefit is to be halved.



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