The Motor Vehicle Values report summarises the motor vehicel classes used in the MHR RemData service, and provides the remunerative values for each class. These values are used in the calculation of Total Remuneration and Total Cost figures in our detailed analysis.
Note that while we provide a description for each class, and provide examples of the types of vehicles likely to be included in each class, the primary determinant of class should be the retail value of the vehicle. Note this is the retail value which would typically be paid by a private purchaser, not the discounted cost which may be available to a corporate purchaser.
For a full explanation of how motor vechiles are valued in the MHR RemData service see the item on Employer-provided Motor Vehiclesin this guide.
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Description of the types of vehicles typically included in the class.
Note that these descriptions are not intended to be fully comprehensive. Consideration must also be given to the Retail Value of a vehicle before choosing the Class against which it is reported or compared.
The listed retail range of the vehicles commonly included in the Class. This range is based on current retail values of the example vehicles listed, which is why there may be slight gaps between the ranges in adjacent classes. Where the retaill value of a vehicle provided falls into the range between two classes, use the Description and the Examples for each class to help determine the classification.
Note that the normal Retail Value is used in classifying vehicles, as that reflects the retail price which is likely to be paid by a private buyer without recourse to corporate discounts, and therefore provides a valid foundation for the calculation of remunerative values.
Using these price ranges, assessments are then made of all other elements of the cost of running a vehicle over a three year period, representing the normal turnover period for employer-provided vehicles.
The annual cost of providing the vehcile, reflecting the annualised remunerative value, plus the cost of any Fringe Benefit Tax (FBT) and GST which may be payable by the employer. This figure is used in the calculation of Total Cost figures for the package.
