Fringe benefits tax: car benefits: employer retention of car records

Taxation Ruling MT 2041, which issued on 30 March 1989, sets out, for the purposes of the Fringe Benefits Tax Assessment Act 1986 (FBTAA), the Commissioner's policy at that time concerning employer retention of car records.

Subsequent to the issue of Taxation Ruling MT 2041, Taxation Laws Amendment (FBT Cost of Compliance) Act 1995 made changes to the FBTAA in respect of the requirements relating to employer retention of car records. Taxation Ruling MT 2041 does not reflect the current provisions of the FBTAA and is therefore withdrawn.

The Tax Office's publication Fringe benefits tax (FBT) - A guide for employers (NAT 1054) contains general information about this issue. A copy of this publication is available on the Tax Office's website: www.ato.gov.au .