Salary exchanged for private use of a work vehicle

Income tax Dates

JAN 15

AIM instalments are due if you have a March balance date.
JAN 15

Provisional tax payments are due if you have a March balance date and use the standard, estimation or ratio options.
JAN 28

AIM instalments are due if you file GST monthly and have a March balance date.

All Income tax dates

From 1 April 2014 if you agreed to a lower salary in exchange for private use of a company motor vehicle, the amount of your salary reduction is treated as part of your income for Working for Families and student loans.

If the use of the vehicle just comes with the job then do not include the value. For example, you can use the work vehicle for private and work-related use without it affecting your salary or wage.

When Erin started work, her employer offered her either:

$50,000 salary and the private use of the work car
$58,000 salary without private use of the work car.

Erin decided to use the employer-provided car instead of the $8,000 in additional salary.

She must include the $8,000 as income for Working for Families and student loans.

Ko te utu ā-tau kua hohokona me te whakamahinga tūmataiti o tētahi waka pakihi Salary exchanged for private use of a work vehicle

Income tax Dates

Salary exchanged for private use of a work vehicle