Q: What is the current daily car parking rate threshold for FBT liability?
A: The threshold for the 09/10 FBT year is $7.25 per day. The threshold for the 10/11 FBT year is $7.46 per day.

Q: How long has NPC provided FBT rate reports?
A: NPC has been assisting corporations Australia-wide since the inception of FBT on car parking in 1992.

Q: Which method does NPC use to determine the value of a car parking benefit?
A: There are three methods used in determining the value of a car parking benefit:
     1. Commercial parking station method
     2. Market value method
     3. Average cost method
As a general rule, NPC use the average cost method, however if deemed appropriate may consider the market valuation method as an option.

Q: Is NPC qualified as a valuer for determination purposes?
A: Yes

Q: What information does NPC require to prepare a report?
A: Company details and address/es of the employer provided parking.

Q: What format are the reports in?
A: Rates for all nominated locations will be provided in one streamlined report, offering easy access to data and making lodgement simple and less time consuming.
If a valuation report is required it will comply in all respects to Taxation Determination TR 96/26

Q: How much does a report cost?
A: Our fees vary depending on the following;
     • Location of nominated address
     • Method used
     • Number of locations
Please contact us for a proposal including fee estimates based on your requirements.

Q: How do you source your rates?
A: We source our rates by conducting site surveys Australia wide.
NPC retains confirmation of rates and other relevant information by way of photographs, letters of confirmation, websites and other marketing sources. NPC has a comprehensive database of car park information including;
     • Car park fees
     • Rate structures and special deals
     • Operator/manager details
     • Location and other pertinent details

Q: Can we get the rates ourselves?
A: Yes. You can source rates to use in your FBT return yourself. However, companies use our services for a number of reasons;
     • Time cost – there is a considerable cost of your time involved in researching the area, conducting measurements, comparative analysis and taxation compliance
     • Accuracy & saving –you will receive the cheapest rate within 1km of the employer provided parking or an appropriate market rate (depending on which method is used), so you will not be paying more tax than required. We often identify rates cheaper than those you may find yourself, which can mean large savings on FBT liability
     • Valid methodology– our process has been tested and accepted as valid methodology by the ATO so you can be assured the rates we have sourced are correct and adhere to ATO guidelines
     • Scale – in many cases organisations have numerous sites, nationally, which require assessment, often in unfamiliar or distant locations. We survey car parks Australia wide and have sourced the cheapest rates in each of these locations