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18 Aug 11 FBT: meaning of "cost price" of a car - TR 2011/3

On 17 August 2011, the ATO issued Taxation  Ruling TR 2011/3, entitled "Fringe benefits tax: meaning of 'cost price' of a car, for the purpose of calculating the taxable value of car fringe benefits". It was previously released in draft form as TR 2011/D1.

The Ruling sets out the Commissioner's views on how the following arrangements may affect the amount of "expenditure incurred by a person that is directly attributable to the acquisition or delivery of a car", for the purposes of sub-subparagraph (a)(ii)(A) of the definition of "cost price" of a car in s 136(1) of the FBT Assessment Act 1986:

(a)  a trade-in vehicle provided by an employee towards the purchase of a car;
(b)  an up-front cash payment made by an employee towards the purchase of a car; and
(c)  fleet discounts, sales incentives and manufacturers' rebates.


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