Income Tax Assessment Act 1936

PART III - LIABILITY TO TAXATION  

Division 3 - Deductions  

Subdivision A - General  

SECTION 51AEB   MEAL ENTERTAINMENT - ELECTION UNDER SECTION 37CA OF FRINGE BENEFITS TAX ASSESSMENT ACT 1986 TO USE THE 12 WEEK REGISTER METHOD  

51AEB(1)    
If a taxpayer has made an election under section 37CA of the Fringe Benefits Tax Assessment Act 1986 :

(a) for each expense incurred in the FBT year by the taxpayer in providing meal entertainment, a deduction equal to the amount worked out using the following formula is allowable to the taxpayer for the year of income in which it is incurred:

Amount of expense   ×   Register percentage

(b) no other deduction under any provision of this Act is allowable to the taxpayer for the expense.

51AEB(2)    
The register percentage is the percentage worked out using the formula:

Total deductions for register meal entertainment Total register meal entertainment expenses

×

100%

where:

Total deductions for register meal entertainment means the total of deductions that would (but for this section and section 51AEA ) be allowable to the taxpayer for expenses incurred by the taxpayer in providing meal entertainment in the 12 week period covered by the register kept by the employer under Subdivision C of Division 9A of the Fringe Benefits Tax Assessment Act 1986 .

Total register meal entertainment expenses means the total of expenses incurred by the taxpayer in providing meal entertainment during that 12 week period.

51AEB(3)    
Expressions used in this section have the same meaning as in the Fringe Benefits Tax Assessment Act 1986 .