Fringe benefits tax: what records of distance travelled are acceptable if the employer did not keep the opening and closing odometer readings for a car for the statutory formula method of calculating car fringe benefits in section 9 of the Fringe Benefits Tax Assessment Act 1986 ?

TD 94/26 outlines that the statutory formula method for calculating car fringe benefits requires a determination of the total kilometres travelled by a car during the year.

TD 94/26 deals with section 9 of the Fringe Benefits Tax Assessment Act 1986, which was amended in 2011 outlining that the 'statutory fraction' of 0.2 is to be applied in all cases rather than a different percentage based on the number of kilometres travelled in the FBT year.

TD 94/26 has no ongoing relevance and therefore is withdrawn without replacement.