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

128   Subsection 110(1)

Repeal the subsection, substitute:

(1) Subject to this section, the notional tax amount of an employer in respect of a year of tax is the amount of the tax that was assessed in respect of the employer in respect of the immediately preceding year of tax.