Fringe Benefits Tax Assessment Act 1986

PART III - FRINGE BENEFITS  

Division 9A - Meal entertainment  

Subdivision B - 50/50 split method of valuing meal entertainment  

SECTION 37BA  

37BA   TAXABLE VALUE USING 50/50 SPLIT METHOD  

If this Division applies to an employer for an FBT year then, unless the employer elects that Subdivision C applies, the total taxable value of meal entertainment fringe benefits of the employer for the FBT year is 50% of the expenses incurred by the employer in providing meal entertainment for the FBT year.

Note:

This means that the employer's aggregate fringe benefits amount (see section 5C ) for the FBT year will include 50% of the total expenses incurred by the employer for the provision of meal entertainment to all persons in the FBT year.