Fringe Benefits Tax Assessment Act 1986
PART III
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FRINGE BENEFITS
Division 11
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Property fringe benefits
Subdivision B
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Taxable value of property fringe benefits
SECTION 43
43
TAXABLE VALUE OF EXTERNAL PROPERTY FRINGE BENEFITS
Subject to this Part, the taxable value of an external property fringe benefit in relation to an employer in relation to a year of tax is:
(a) where the provider was the employer or an associate of the employer and the recipients property was purchased by the provider under an arm's length transaction at or about the provision time - the cost price of the recipients property to the provider;
(b) where the provider was not the employer or an associate of the employer and the employer, or an associate of the employer, incurred expenditure to the provider under an arm's length transaction in respect of the provision of the property - the amount of that expenditure; or
(c) in any other case - the notional value of the recipients property at the provision time;
[ CCH Note: Modification Declaration FRLI No F2021L00261 ( Bankruptcy Regulations 2021 : FRLI No F2021L00261, registered on 19 March 2021 and effective from 1 April 2021.)
Division 11 of Part III of the Act is modified by repealing the Division.]
Subject to this Part, the taxable value of an external property fringe benefit in relation to an employer in relation to a year of tax is:
(a) where the provider was the employer or an associate of the employer and the recipients property was purchased by the provider under an arm's length transaction at or about the provision time - the cost price of the recipients property to the provider;
(b) where the provider was not the employer or an associate of the employer and the employer, or an associate of the employer, incurred expenditure to the provider under an arm's length transaction in respect of the provision of the property - the amount of that expenditure; or
(c) in any other case - the notional value of the recipients property at the provision time;
reduced by the amount of the recipients contribution.
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