FBT cents per kilometre rates & LAFHA for 2024-25

The cents per kilometre rates (with effect from 1 April 2024) for calculating the taxable value of a fringe benefit arising in the 2024-25 FBT year from the private use of a motor vehicle (other than a car) per TD 2024/1:

• vehicles with an engine capacity of up to 2,500cc – 66 cents/km.
• vehicles with an engine capacity of over 2,500cc – 77 cents/km.
• motorcycles – 19 cents/km.

The ATO released TD 2024/2 (with effect from 1 April 2024) for the weekly amounts it considers reasonable for food and drink expenses incurred by employees receiving a living-away-from-home allowance fringe benefit for the 2024-25 FBT year (ie starting 1 April 2024).