Commonwealth Numbered Regulations

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FRINGE BENEFITS TAX AMENDMENT REGULATIONS 2007 (NO. 1) (SLI NO 43 OF 2007)

- Registered on FRLII: 23 March 2007
- Department:Treasury
- Description:These Regulations amend the Fringe Benefits Tax Regulations 1992 to exclude pooled or shared vehicles from the finge benefits tax reporting requirement. This is in response to 'Rethinking Regulation: Report of the Taskforce on Reducing Regulatory Burdens on Business', where the Government agreed in principle to this measure with the aim of reducing compliance and record keeping costs for employers with pooled or shared vehicles by no longer requiring them to report on an employee's payment summary the finge benefits arising from the individual employee's use of such vehicles.

TABLE OF PROVISIONS

   1.      Name of Regulations  
   2.      Commencement  
   3.      Amendment of Fringe Benefits Tax Regulations 1992  
           SCHEDULE 1 Amendment

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