Documents released under the Official Information Act show Parker has received advice on how double-cab utes were taxed and Parker confirmed he was considering acting on it. Parker said the advice from IRD was that double-cab ute owners weren't exempt from paying FBT, despite a popular belief that there was an exemption in place. Parker said IRD was not keen on chasing down the double-cab ute owners' taxes because it would not bring in much money. "Anecdotally, the FBT advantage is a major driver of double-cab utes being provided as company cars," Genter said. The exemption was first introduced by Simon Bridges as transport minister and has been extended by subsequent governments.

Source: New Zealand Herald July 06, 2021 05:23 UTC