Smartrak, an industry-leading provider of mobility, fleet management, and telematics solutions, announced in April that its PoolCar booking system has been granted a Class Ruling for the use of Fringe Benefits Tax (FBT) reporting. In the ruling, the Australian Tax Office observed that PoolCar’s logbook feature satisfies the definition of “logbook records” for the purpose of claiming FBT.
When integrated with telematics, PoolCar tracks staff journeys and allocates the odometer readings to those vehicle’s trips. Coupled with the ability to allocate the percentage of work and personal use across a journey, PoolCar is now approved for use as evidence when claiming FBT.
“This is fantastic news for our current and prospective Australian customers,” said Peter Grant, Smartrak’s CEO. “Smartrak’s PoolCar logbook will empower organisations to more easily make accurate and compliant FBT claims, allowing them to focus their valuable time on managing their fleet and less on administration.”
The logbook feature is a default report within PoolCar and is immediately available to all current PoolCar users. To leverage the report for FBT, Smartrak offers a range of GPS devices, or can also integrate a fleet’s existing GPS data to enable the essential automated odometer readings.
More information about the PoolCar booking solution and its integrated offerings can be found on Smartrak’s website.