(b) the value of any benefit provided for or in relation to the provision of
services in connection with the employment agency contract that would be a
fringe benefit if provided to a person in the capacity of an employee,
(2) Subsection (1) does not apply to an
employment agency contract to the extent that an amount, benefit or payment
referred to in that subsection would be exempt from payroll tax under Part 4
(other than under section 50 or Division 4 or 5 of that Part), or Part 3 of
Schedule 2 (other than clause 5 or 13A), had the service providerperformed
the services as an employee of the client, if the client has given a
declaration to that effect, in the form approved by the Chief Commissioner, to
the employment agent.