Benefits - Vehicle

The employee's use of the employer's motor vehicle is deemed to be a taxable fringe benefit.  The value is taken to be the cost to the employer calculated in terms of the engine capacity of the vehicle.  

These costs are announced each year in the annual budget statement and applied in the ensuing tax year.  The engine capacities are as follows with a USD value and an RTGS value assigned to each:

1500cc or less

1501 to 2000cc

2001 to 3000cc

Exceeding 3000cc

To set up the benefits code see the 'Benefit - Vehicle' heading under Benefits