FBT Parking™ FREQUENTLY ASKED QUESTIONS

What is FBT Parking?

FBT Parking is a product provided by Sydney Airport that allows Employers to pre-arrange for Sydney Airport to take custody of employees' cars that are valet parked at the Airport. The benefits of this arrangement are 1) the Employer can access the car if needed, 2) the car does not accrue Fringe Benefits tax whilst the employee is away, and 3) the savings on the Fringe Benefits tax may substantially offset the cost of Valet parking at the airport, providing a benefit to both Employer and employee.

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Who is eligible for FBT Parking?

The FBT Parkingagreement must be entered into with Sydney Airport by Employers who provide cars to employees for private use and who are subject to Fringe Benefits Tax on these cars. Employees of Employers who have entered into the agreement are then eligible to use the Sydney Airport FBT Parkingservice.

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What is the value of the Fringe Benefits Tax savings?

Fringe Benefits tax on a car varies according to a number of factors. Click here to use our savings calculator for an estimate of the savings that may apply to you. Please bear in mind that Sydney Airport can only provide you with a savings estimate and all final tax calculations and declarations are the responsibility of the Employer.

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How do I use FBT Parking after my Employer has enrolled?

To take advantage of FBT Parking, you must complete an FBT Parking Reservation form (available online at www.sydneyairport.com.au or click here). Then take the completed and signed form to Pronto! Valet, at either the Domestic or International Terminal, and turn the reservation form into the valet at check-in. That's it!

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Where is FBT Parking located at Sydney Airport?

FBT Parking is only available at Pronto! Valet. Pronto! Valet has two locations: in the Domestic multi-storey car park between T2 and T3, and in the International precinct inside the T1 multi-storey car park.

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Why can't I get FBT Parking when I self park?

To comply with the Sydney Airport parking class ruling, Sydney Airport must "assume control" of your company car in order for Fringe Benefits Tax to stop accruing. When you self park and take your car keys, Sydney Airport has not "assumed control" of your vehicle. It is for this reason that you are required to use Pronto! Valet rather than self parking.

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How do I know what Fringe Benefits Tax savings I may be entitled to at the end of the year?

Sydney Airport will provide Employers with a year-end report that provides the following information: user name, vehicle registration number, date and time entered into the car park, date and time exited from the car park. Employers then have the information necessary to calculate fringe benefit tax savings. You may want to keep your valet parking receipts for your own records of how often and when you have parked using FBT Parking at Sydney Airport.

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Why are my estimated "Fringe Benefits days" less than my total "Paid Parking days"?

For tax purposes, a fringe benefits "day" is calculated as a 24-hour period that begins at midnight and ends at midnight the following day. Sydney Airport charges parking days differently. Customers are charged for each calendar day, either in whole or in part, that the customer is in the car park. So if you entered Pronto! Valet on Monday at 8 am and left Wednesday at 5 pm, you would be charged for 3 days of parking. However, that time period would only include 1 segment of time from midnight to midnight (Monday night at midnight to Tuesday night at midnight), and therefore would only qualify for 1 day of fringe benefits tax relief. Click here for details and an example of a calculation.

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How does my employer gain access to my car while I am away and my car is parked at Sydney Airport's FBT Parking

Your Employer may designate up to 3 "nominated representatives" (in addition to yourself) who are permitted to pick up your car at the car park. These nominated representatives must be listed on your FBT Parking reservation form. These 3 representatives are able to pick up your car at the return date specified, or in advance of the return date, as long as the FBT Parking office (at Pronto! Valet) has been notified in writing.

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Why are reservations required for FBT Parking?

The Sydney Airport parking class ruling issued by the Australian Taxation Office requires compliance with certain terms and conditions to obtain the benefit of FBT Parking. These include 1) Employers wishing to benefit from FBT Parking must enter into a commercial parking agreement with Sydney Airport, 2) the Airport is notified in advance of the employee's intention to park, and 3) that an Employer-authorized signature is presented at the Airport granting permission to an employee to use FBT Parking. The FBT Reservation form provides the information to comply with the terms of the class ruling.

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What happens if I have forgotten to get an authorised signature in advance of arriving at the Airport?

If you are not an authorised signatory, you may ask the authorised signatory to sign and send (fax or scan in then email) your Reservation form to the Pronto! Valet office. This must be done before you hand over your keys to the Pronto! Valet.

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What happens if I want a family member to pick up my car from FBT Parking?

We are only able to release your car to pre-designated nominated representatives. If your family member has been pre-designated by your Employer as a nominated representative, then s/he can pick up your car.

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FBT Parking™ FREQUENTLY ASKED QUESTIONS