Tax and Superannuation Laws Amendment (2013 Measures No. 1) Act 2013 (88 of 2013)

Schedule 2   Airline transport fringe benefits

Fringe Benefits Tax Assessment Act 1986

26   Subsection 136(1)

Insert:

stand-by airline travel value , in relation to an airline transport fringe benefit, means:

(a) if the transport is over a domestic route - 50% of the carrier's lowest standard single economy air fare:

(i) for that route; and

(ii) as publicly advertised during the year of tax; or

(b) if the transport is over an international route - 50% of the lowest of any carrier's standard single economy air fare:

(i) for that route; and

(ii) as publicly advertised during the year of tax.