FRINGE BENEFITS TAX ASSESSMENT ACT 1986
Table of Provisions
PART I--PRELIMINARY
PART II--ADMINISTRATION
PART IIA--CORE--PROVISIONS
DIVISION 1--Working out an employer's fringe benefits taxable amount- 5A Simplified outline of this Division
- 5B Working out an employer's DIVISION 2--Working out an employer's aggregate fringe benefits amount
- 5C Aggregate fringe benefits amount DIVISION 3--Employee's individual fringe benefits amount
- 5D Simplified outline
- 5E Employee's individual fringe benefits amount
- 5F Working out the
PART III--FRINGE--BENEFITS
DIVISION 1--Preliminary- 6 Part not to limit generality of DIVISION 2--Car fringe benefits
- 7 Car benefits
- 8 Exempt car benefits
- 8A Exempt car benefits: cars that are zero or low emissions vehicles
- 9 Taxable value of car fringe benefits--statutory formula
- 10 Taxable value of car fringe benefits--cost basis
- 10A No reduction of operating cost in a log book year of tax unless log book records and odometer records are maintained
- 10B No reduction of operating cost in a non-log book year of tax unless log book records and odometer records are maintained in log book year of tax
- 11 Calculation of depreciation and interest
- 12 Depreciated value
- 13 Expenditure to be increased in certain circumstances DIVISION 3--Debt waiver fringe benefits
- 14 Debt waiver benefits
- 15 Taxable value of debt waiver fringe benefits DIVISION 4--Loan fringe benefits
- 16 Loan benefits
- 17 Exempt loan benefits
- 18 Taxable value of loan fringe benefits
- 19 Reduction of taxable value--rule DIVISION 5--Expense payment fringe benefits
- 20 Expense payment benefits
- 20A Exemption--no-private-use declaration
- 21 Exempt accommodation expense payment benefits
- 22 Exempt car expense payment benefits
- 22A Taxable value of in-house expense payment fringe benefits
- 23 Taxable value of external expense payment fringe benefits
- 24 Reduction of taxable value--rule DIVISION 6--Housing fringe benefits
- 25 Housing benefits
- 26 Taxable value of non-remote housing fringe benefits
- 27 Determination of market value of housing right
- 28 Indexation factor for valuation purposes--non-remote housing DIVISION 7--Living-away-from-home allowance fringe benefits
- 30 Living-away-from-home allowance benefits
- 31 Taxable value--employee maintains a home in Australia
- 31A Taxable value--fly-in fly-out and drive-in drive-out employees
- 31B Taxable value--any other case
- 31C Maintaining a home in Australia
- 31D First 12 months employee is required to live away from home
- 31E Fly-in fly-out and drive-in drive-out requirements
- 31F Declarations
- 31G Substantiating related expenses
- 31H Exempt food component DIVISION 9--Board fringe benefits
- 35 Board benefits
- 36 Taxable value of board fringe benefits
- 37 Reduction of taxable value--rule DIVISION 9A--Meal entertainment
- 37A Key principle
- 37AA Division only applies if election made
- 37AB Employee contributions to be excluded
- 37AC Meal entertainment benefits
- 37AD Meaning of
- 37AE Fringe benefits only arise if employer is provider
- 37AF No other fringe benefits arise if election made
- 37AG Some benefits still arise
- 37B Key principle
- 37BA Taxable value using 50/50 split method
- 37C Key principle
- 37CA Election by employer
- 37CB Taxable value using 12 week register method
- 37CC Choosing the 12 week period for a register
- 37CD FBT years for which register is valid
- 37CE Matters to be included in register
- 37CF False or misleading entries invalidate register DIVISION 10--Tax-exempt body entertainment fringe benefits
- 38 Tax-exempt body entertainment benefits
- 39 Taxable value of tax-exempt body entertainment fringe benefits DIVISION 10A--Car parking fringe benefits
- 39A Car parking benefits
- 39AA Anti-avoidance--fee on first business day not representative
- 39AB When fees are
- 39B When commercial parking stations are located within a 1 km radius of business premises or associated premises
- 39C Taxable value of car parking fringe benefits--method
- 39D Taxable value of car parking fringe benefits--basis
- 39DA Taxable value of car parking fringe benefits--method
- 39E Fees charged by commercial parking stations for all-day parking
- 39F The key principle
- 39FA Spaces method of calculating total taxable value of car parking fringe benefits
- 39FB Number of spaces exceeds number of employees
- 39FC Meaning of
- 39FD Meaning of
- 39FE Meaning of
- 39G The key principle
- 39GA Employer may elect to use 12 week record keeping method
- 39GB Value of fringe benefits for year
- 39GC Meaning of
- 39GD Meaning of
- 39GE Choosing the 12 week period for a register
- 39GF FBT years for which register is valid
- 39GG Matters to be included in register
- 39GH Fraudulent entries invalidate register DIVISION 11--Property fringe benefits
- 40 Property benefits
- 41 Exempt property benefits
- 42 Taxable value of in-house property fringe benefits
- 43 Taxable value of external property fringe benefits
- 44 Reduction of taxable value--rule DIVISION 12--Residual fringe benefits
- 45 Residual benefits
- 46 Year of tax in which residual benefits taxed
- 47 Exempt residual benefits
- 47A Exemption--no-private-use declaration
- 48 Taxable value of in-house non-period residual fringe benefits
- 49 Taxable value of in-house period residual fringe benefits
- 50 Taxable value of external non-period residual fringe benefits
- 51 Taxable value of external period residual fringe benefits
- 52 Reduction of taxable value--rule DIVISION 13--Miscellaneous exempt benefits
- 53 Motor vehicle fringe benefit fuel etc. to be exempt in certain cases
- 54 Provision of food or drink to be exempt benefit in certain cases
- 55 Benefits provided by certain international organisations to be exempt
- 56 Preservation of diplomatic and consular immunities
- 57 Exempt benefits--employees of religious institutions
- 57A Exempt benefits--public benevolent institutions, health promotion charities, some hospitals and public ambulance services
- 58 Exempt benefits--live-in residential care workers
- 58A Exempt benefits--employment interviews and selection tests
- 58AA Exempt benefits--engagement of relocation consultant
- 58B Exempt benefits--removals and storage of household effects as a result of relocation
- 58C Exempt benefits--sale or acquisition of dwelling as a result of relocation
- 58D Exempt benefits--connection or re-connection of certain utilities as a result of relocation
- 58E Exempt benefits--leasing of household goods while living away from home
- 58F Exempt benefits--relocation transport
- 58G Exempt benefits--motor vehicle parking
- 58GA Exempt benefits--small business car parking
- 58H Exempt benefits--newspapers and periodicals used for business purposes
- 58J Exempt benefits--compensable work-related trauma
- 58K Exempt benefits--in-house health care facilities
- 58L Exempt benefits--certain travel to obtain medical treatment
- 58LA Exempt benefits--compassionate travel
- 58M Exempt benefits--work-related medical examinations, work-related medical screening, work-related preventative health care, work-related counselling, migrant language training
- 58N Exempt benefits--emergency assistance
- 58P Exempt benefits--minor benefits
- 58PA Exempt benefits--worker entitlement contributions
- 58PB Meaning of
- 58Q Exempt benefits--long service awards
- 58R Exempt benefits--safety awards
- 58S Exempt benefits--trainees engaged under Australian Traineeship System
- 58T Exempt benefits--live-in domestic workers employed by religious institutions or by religious practitioners
- 58U Exempt benefits--live-in help for elderly and disadvantaged persons
- 58V Exempt benefits--food and drink for non-live-in domestic employees
- 58W Exempt benefits--deposits under the
- 58X Exempt benefits--provision of certain work related items
- 58Y Exempt benefits--membership fees and subscriptions
- 58Z Exempt benefits--taxi travel
- 58ZB Exempt benefits--approved student exchange programs
- 58ZC Exempt benefits--remote area housing benefits
- 58ZD Exempt benefits--meals on working days
- 58ZE Exempt benefits--provision of certain education or training DIVISION 14--Reduction of taxable value of miscellaneous fringe benefits
- 59 Reduction of taxable value--remote area residential fuel
- 60 Reduction of taxable value--remote area housing
- 60AA Guideline price for repurchase of remote area residential property
- 60A Reduction of taxable value--remote area holiday transport fringe benefits subject to ceiling
- 61 Reduction of taxable value--remote area holiday transport fringe benefits not subject to ceiling
- 61A Reduction of taxable value--overseas employment holiday transport
- 61B Reduction of taxable value of certain expense payment fringe benefits in respect of relocation transport
- 61C Reduction of taxable value--temporary accommodation relating to relocation
- 61D Reduction of taxable value of temporary accommodation meal fringe benefits
- 61E Reduction of taxable value of certain expense payment fringe benefits in respect of employment interviews or selection tests
- 61F Reduction of taxable value of certain expense payment fringe benefits associated with work-related medical examinations, work-related medical screenings, work-related preventative health care, work-related counselling or migrant language training
- 61G Reduction of taxable value of fringe benefits if certain deductions relating to payments to associates are not allowed
- 62 Reduction of aggregate taxable value of in-house fringe benefits
- 63 Reduction of taxable value of living-away-from-home food fringe benefits
- 63A Reduction of taxable value in respect of entertainment component of certain fringe benefits
- 65A Reduction of taxable value--education of children of overseas employees DIVISION 14A--Amortisation of taxable value of fringe benefits relating to remote area home ownership schemes
- 65CA Amortisation of taxable value of fringe benefits relating to remote area home ownership schemes
- 65CB Amendment of assessments DIVISION 14B--Reducible fringe benefits relating to remote area home repurchase schemes
- 65CC Reducible fringe benefits relating to remote area home repurchase schemes DIVISION 15--Car substantiation rules for otherwise deductible provisions
- 65D Car substantiation rules
- 65E No compliance with substantiation rules in log book year of tax unless log book records and odometer records are maintained
- 65F No compliance with substantiation rules in non-log book year of tax unless log book records kept in previous log book year of tax
PART IIIA--REBATES--OF TAX
- 65J Rebate for certain not-for-profit employers etc.
PART IV--LIABILITY--TO TAX
PART V--RETURNS--AND ASSESSMENTS
DIVISION 1--Returns- 68 Annual returns
- 69 Further returns
- 70 Keeping records of indirect tax transactions
- 70D Tax agent to give taxpayer copy of notice of assessment DIVISION 2--Assessments
- 72 First return deemed to be an assessment
- 73 Default assessments
- 74 Amendment of assessments
- 75 Refund of amounts overpaid
- 76 Amended assessment to be an assessment
- 77 Notice of assessment
- 78 Validity of assessment
- 78A Objections
PART VII--COLLECTION--AND RECOVERY OF TAX
DIVISION 1--General- 90 When tax payable
- 93 Unpaid tax
- 100 Person in receipt or control of money of non-resident DIVISION 2--Collection by instalments
- 101 Interpretation
- 102 Liability to pay instalments of tax
- 103 When instalment of tax payable
- 104 Notice of the amount of an instalment
- 105 Credit for instalments payable
- 109 Interpretation
- 110 Notional tax amount
- 111 Amount of instalment of tax
- 112 Estimated tax
- 112A Credit in certain cases where amount of instalment is nil
- 112B Liability to GIC on shortfall in quarterly instalment worked out on the basis of estimated tax
- 113 Notice of alteration of amount of instalment
PART X--STATUTORY--EVIDENTIARY DOCUMENTS
- 123 Retention of statutory evidentiary documents
- 123AA Alternatives to statutory evidentiary documents
- 123A When business use percentage and estimate of business kilometres must be specified
- 123B Substantiation requirements not to apply in special circumstances
PART XA--ENDORSEMENT--OF REGISTERED CHARITIES ETC.
- 123C Endorsement by Commissioner as public benevolent institution
- 123D Endorsement by Commissioner as health promotion charity
- 123E Endorsement by Commissioner as registered charity (other than public benevolent institution or health promotion charity)
PART XI--MISCELLANEOUS
- 124 Assessments
- 124A Assessment on assumption
- 129 Agents and trustees
- 132 Records to be kept and preserved
- 132A Written evidence not available when return lodged
- 134 Service on partnerships and associations
- 135 Regulations
PART XIA--RECORD--KEEPING EXEMPTION
DIVISION 1--Overview of Part- 135A Overview of Part DIVISION 2--Conditions
- 135B Conditions that must be satisfied
- 135C What is a base year? DIVISION 3--Consequences if conditions in Division 2 are satisfied
- 135D Consequences
- 135E Exemption from keeping records
- 135F Keeping records for 5 years after they are last relied on
- 135G Way to work out liability
- 135H Exception if employer chooses to use current year aggregate fringe benefits amount
- 135J Exception if employer is government body or tax-exempt
- 135K Exception if aggregate fringe benefits amount increases too much
- 135L Employer not in business throughout current year
PART XIB--REPORTABLE--FRINGE BENEFITS TOTALS
- 135M Simplified outline of this Part
- 135N Employee's
- 135P Employee's--general rule
- 135Q for some employees of certain institutions
PART XIC--APPLICATION--OF THE ACT TO NOMINATED STATE OR TERRITORY BODIES
- 135R Application of this Part
- 135S Nomination of eligible State or Territory bodies
- 135T Eligible State or Territory bodies
- 135U Consequences of nomination
- 135V Working out the notional tax amount where nominations have been made, varied or revoked
- 135W Notional tax amount where a nominated State or Territory body ceases to exist
- 135X Application of certain provisions by agreement with the Commissioner
PART XID--TEMPORARY--BUDGET REPAIR LEVY
- 135Y Temporary budget repair levy
PART XII--INTERPRETATION
- 136 Interpretation
- 136AB What constitutes reasonable belief that a superannuation fund is a complying superannuation fund
- 136A Reimbursement etc. of tax not to be regarded as consideration in respect of benefit etc.
- 137 Salary or wages
- 138 Double counting of fringe benefits
- 138A Benefit provided in respect of a year of tax
- 138B Benefit provided in respect of the employment of an employee
- 138C Application or use of benefit
- 139 Date on which return furnished
- 140 Eligible urban areas
- 141 Housing loans, prescribed interests in land or stratum units and proprietary rights in respect of dwellings
- 141A Benefits incidental to acquisition or sale of prescribed interests in land or stratum units and proprietary rights in respect of dwellings
- 142 Remote area housing
- 142A Benefits relating to transport
- 142B Employee's new place of employment
- 142C Eligible shared accommodation in a house, flat or home unit
- 142D Eligible accommodation in an employees hostel
- 143 Remote area holiday transport
- 143A Relocation transport
- 143B Overseas employees
- 143C Overseas employment holiday transport
- 143D Employment interviews and selection tests
- 143E Work-related medical examinations, work-related medical screening, work-related preventative health care, work-related counselling, migrant language training
- 144 Deemed payment
- 145 Consideration not in cash
- 146 Amounts to be expressed in Australian currency
- 147 Obligation to pay or repay an amount
- 148 Provision of benefits
- 149 Provision of benefit during a period
- 149A What is a?
- 150 Credit cards
- 151 Employee performing services for person other than employer
- 152A Recurring fringe benefit declaration
- 152B Employer may elect 50/50 split method for entertainment facility leasing costs
- 153 Residual benefits to include provision of property in certain circumstances
- 154 Creation of property
- 155 Use of property before title passes
- 156 Supply of electricity or gas through reticulation system
- 157 Christmas Island and Cocos (Keeling) Islands
- 158 Related companies
- 159 Associates and relatives
- 160 Continuity of employment where business disposed of etc.
- 161 Business journeys in car
- 162 Holding of car
- 162B When car used for the purpose of producing assessable income
- 162C Holding period of car
- 162F Reasonable estimate of number of business kilometres
- 162G Log book year of tax
- 162H Applicable log book period
- 162K Replacement cars--car fringe benefits
- 162L Replacement cars--otherwise deductible provisions
- 162N Registration of motor vehicle
- 164 Residence
- 165 Partnerships
- 166 Unincorporated companies
- 167 Offences by government bodies