A New Tax System (Pay As You Go) Act 1999 (178 of 1999)

Schedule 2   Running balance accounts, general interest charge and related matters

Part 3   Fringe benefits tax

Fringe Benefits Tax Assessment Act 1986

112   Subparagraph 44(1)(ba)(ii)

Omit all the words and subparagraphs from and including "allowable", substitute "allowable as a once-only deduction other than a foreign income deduction to the recipient under either of those Acts in respect of that consideration if that consideration had been incurred and paid by the recipient at the provision time".