FRINGE BENEFITS TAX ASSESSMENT ACT 1986 - SECT 135Y Temporary budget repair levy
FRINGE BENEFITS TAX ASSESSMENT ACT 1986 - SECT 135Y
Temporary budget repair levy(1) This section applies to the temporary budget repair levy years for FBT (within the meaning of section 6A of the Fringe Benefits Tax Act 1986 ).
Modification for aggregate non - exempt amount
(2) The method statement in subsection 5B(1E) has effect as if:
(a) each reference in that method statement to $17,000 was instead a reference to $17,667; and
(b) the reference in that method statement to $30,000 was instead a reference to $31,177.
Modified rebate for certain not - for - profit employers
(3) The method statement in subsection 65J(2B) has effect as if the reference in that method statement to $30,000 was instead a reference to $31,177.
Note: The FBT rate is increased by 2 percentage points in the temporary budget repair levy years for FBT: see section 6A of the Fringe Benefits Tax Act 1986 .