FBT calculator update | Inland Revenue 2012

The FBT calculator available on the Inland Revenue website are up to date for the 2012 FBT rates. (We review them as part of testing our FBT software).

FBT Calculator | Single employee

Fringe benefit tax alternate rate calculator (Inland Revenue)

We found no issues with the 2012 FBT rates or logic during our 2012 testing. The single employee FBT calculator works the same way as prior years and uses the same rounding conventions. The 2012 FBT rates for pooling are clearly shown on the landing page which is helpful.

FBT Calculator | Multiple employees

Fringe benefit tax alternate rate calculation sheet (Inland Revenue)

Again, we didn’t identify any issues from our testing. No changes have been made in how it works and rounding conventions are the same as last year. The 2012 FBT rates for each quarter are on the landing page (again, very helpful).

Other FBT updates

Note that the weird legislative anomaly in 2011 Q3, where the single rate was 49.25% and the top alternate rate was 49.00%, has now gone. The single rate is 49.25% and the top alternate rate is back up to 49.25%. This was a strange rule that was most likely an oversight by Inland Revenue Policy when drafting the legislative changes caused by the 2010 budget. This small issue caused considerable grief for some organisations who maintain internal FBT calculators.

FBT Software | Contact us now

If the Inland Revenue calculators are too slow or simple for your needs, please contact us today for purpose built FBT software.