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

127   Section 109 (definition of relevant fraction )

Repeal the definition, substitute:

relevant fraction , in relation to an instalment, means:

(a) 0.25 for a first instalment; or

(b) 0.50 for a second instalment; or

(c) 0.75 for a third instalment; or

(d) 1.00 for a fourth instalment.