FBT: cents per kilometre rates for 2023-24
April 6, 2023
The ATO published the cents per kilometre rates for calculating the taxable value of a fringe benefit arising in the 2023-24 FBT year from the private use of a motor vehicle (other than a car). The rates are:
- for vehicles with an engine capacity of up to 2,500cc – 62 cents/km
- for vehicles with an engine capacity of over 2,500cc – 73 cents/km
- for motorcycles – 18 cents/km.