Miscellaneous Taxation Ruling

MT 2042W

Christmas presents to employees; income tax and fringe benefits tax consequences

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FOI status:

may be released

Notice of Withdrawal

Miscellaneous Taxation Ruling MT 2042 is withdrawn with effect from today.

1. Miscellaneous Taxation Ruling MT 2042, which was released on 1 June 1989, considers the fringe benefits tax consequences of employers giving relatively inexpensive Christmas presents to employees.

2. Draft Taxation Ruling TR 2007/D6 Fringe benefits tax: minor benefits, which was released today, covers the issues considered in MT 2042.

3. Accordingly, Miscellaneous Taxation Ruling MT 2042 is withdrawn.

Commissioner of Taxation
27 June 2007

References

ATO references:
NO 2006/20258

Date of effect:
Immediate

Subject References:
CHRISTMAS PRESENTS
MINOR BENEFITS EXEMPTION
ENTERTAINMENT EXPENDITURE

Legislative References:
58P FBTAA
51AE ITAA