Tax Laws Amendment (2012 Measures No. 4) Act 2012 (142 of 2012)

Schedule 1   Reform of living away from home allowance and benefit rules

Part 2   Other amendments

Fringe Benefits Tax Assessment Act 1986

16   Subsection 136(1) (definition of exempt accommodation component )

Repeal the definition, substitute:

exempt accommodation component , in relation to a living-away-from-home allowance fringe benefit, means so much of the accommodation component as is equal to the total of the expenses that:

(a) are incurred by the employee for that accommodation; and

(b) are substantiated under section 31G.