Commonwealth Consolidated Regulations

FRINGE BENEFITS TAX REGULATIONS 1992 - REG 12

         (1)   For paragraph (b) of item 4 of the table in subsection 110 (1) of the Act, an employer's notional tax amount for the current year is varied by applying the formula:

where:

" NT " is the employer's notional tax amount for the current year.

" AT " is the amount of the employer's fringe benefits tax for the base year.

" CR " is the rate of tax, specified in section 6 of the Fringe Benefits Tax Act 1986 , in respect of the employer's fringe benefits taxable amount for the current year.

" BR " is the rate of tax, specified in section 6 of the Fringe Benefits Tax Act 1986 , in respect of the employer's fringe benefits taxable amount for the base year.

Note    For base year and current year  -- see subsection 110 (1) of the Act.

         (2)   For item 4 of the table in subsection 110 (1) of the Act, the prescribed day is 1 April 2006.