Company Car Plan

[papi smith]

PAL no company cars for Pilots but 300L gas allowance a month must be matched by fuel receipts.

Dumanas din kami ng ganito dati, pati kapitbahay at friends hinihingan namin ng receipts

[papi smith]

Company X - we give you money per month (FBT paid for by the company) - all in for your choice of car-toll-insurance-gasoline-pm-etc.... or pocket the money...

We are not in the business of car fleets...

Company Y - money per month tax-free, to cover everything, toll reimbursable, gas allowance per km in excess of 40 kms. bahala ka sa DP or kung gusto mo i-cash mo. replace your car every 6 years.

What's FBT?

[CVT]

Company Y - money per month tax-free, to cover everything, toll reimbursable, gas allowance per km in excess of 40 kms. bahala ka sa DP or kung gusto mo i-cash mo. replace your car every 6 years.

What's FBT?

Fringe Benefit Tax bro...

[papi smith]

How much tax deduction can be claimed on a company car? I heard this before from my Boss, and the way he put it is that company cars are actually shouldered by the government as it is tax deductible.

Because there's another company that will pay for the DP and MAs for 60 months, with the car in the name of the employee. If the employee goes before it's fully paid bahala na sya. I was thinking that the tax deduction is equal to the interest on MA