Bankruptcy Regulations 2021

SCHEDULE 2 - MODIFICATIONS OF THE FBTA ACT  

Note:

13   Section 36  
Repeal the section, substitute:

36 Taxable value of board fringe benefits  
Subject to this Part, the value of a board fringe benefit is:

(a) in relation to a contribution assessment period beginning:

(i) on 1 July 1992; or

(ii) during the year beginning on 1 July 1992; $1; and

(b) in relation to a later contribution assessment period - a sum worked out according to the formula:

1 × CPI

where:

CPI is the increase in the All Groups Consumer Price Index number that is the weighted average of the 8 capital cities published by the Australian Statistician in respect of the period that commences on 1 July 1992 and ends immediately before the start of the financial year in which the contribution assessment period commences.