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

94   Subparagraphs 9(2)(c)(i) and (ii)

Repeal the subparagraphs, substitute:

(i) if the annualised number of whole kilometres the car travelled during the year of tax was more than 40,000 - 0.07; or

(ii) if the annualised number of whole kilometres the car travelled during the year of tax was not less than 25,000 and not more than 40,000 - 0.11; or

(iii) if the annualised number of whole kilometres the car travelled during the year of tax was not less than 15,000 and not more than 24,999 - 0.20; or

(iv) in any other case - 0.26;