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Taxation Determination

TD 97/10

Fringe benefits tax: what are the indexation factors for valuing non-remote housing and what are the statutory amounts for valuing remote area housing for the fringe benefits tax year commencing 1 April 1997?

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FOI status:

may be releasedFOI number: I 1015345

Preamble
This Determination, to the extent that it is capable of being a 'public ruling' in terms of Part IVAAA of the Taxation Administration Act 1953 , is a public ruling for the purposes of that Part. Taxation Ruling TR 92/1 explains when a Determination is a public ruling and how it is binding on the Commissioner. Unless otherwise stated, this Determination applies to years commencing both before and after its date of issue. However, this Determination does not apply to taxpayers to the extent that it conflicts with the terms of a settlement of a dispute agreed to before the date of issue of the Determination (see paragraphs 21 and 22 of Taxation Ruling TR 92/20).

1. The indexation factors for the purpose of valuing non-remote housing for the fringe benefits tax year commencing 1 April 1997 are:

New South Wales 1.044
Victoria 1.031
Queensland 1.010
South Australia 1.004
Western Australia 1.010
Tasmania 1.009
Australian Capital Territory 0.987
Northern Territory 1.036

2. These factors are based on movements in the rent sub-group of the Consumer Price Index. They may be applied to the previous year's housing values instead of working out a new market value for the year.

3. The following are the statutory amounts for employee housing situated in remote areas of Australia:

for general housing $5,421 ($103.97 weekly)
for single quarters $1,352 ($25.94 weekly).

4. These values are calculated by applying an indexation factor of 1.030 (reflecting the weighted average movement in the rent sub-group for the eight capital cities) to the 1996-97 values. Employers may use them as a simple alternative to calculating benefits based on market values.

Commissioner of Taxation
16 April 1997

References

ATO references:
NO NAT 95/2684-6; FBT 156

ISSN 1038 - 8982

Related Rulings/Determinations:

TD 93/40
TD 94/21
TD 95/21
TD 96/27

Subject References:
fringe benefits tax
housing indexation figures

Legislative References:
FBTAA 26
FBTAA 28
FBTAA 29
FBTAA 29A

TD 97/10 history
  Date: Version: Change:
You are here 16 April 1997 Original ruling  
  27 April 2016 Withdrawn  

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