I want to know that car insurance come under the net of Fringe Benefit Tax?

Can you explain this further. There is no Fringe bebenfit tax that I know of. Some companies may offer car insurance through payroll deductions as a perk. But generally this is not a benefit and its paid with post tax dollars.

Quote:

---

Originally Posted by sachinkundaliya

I want to know that car insurance come under the net of Fringe Benefit Tax?

---

I think you answered your own question on the tax thread: "It means tax on those facilities or allowances which neither taxable for employee nor the employer under some rule. In order to overcome this , it is introduced.

It is applicable to only company and firm. It apply to certains expenses done by the employer such as car,telephone or mobile, air tickets to employee, repair & maintainence etc and apply in different rates for different kinds of expenses which ranging from 20% to 100% depending upon the nature of expenses.

After applying rates as above we get the value of FBT and on which 33.66% tax is calculated which is same for both company and firm."

(I never heard of this so I have no idea where to even look for it.)