Fringe Benefits Tax Assessment Act 1986
For the purposes of this Act, recipients expenditure shall be taken to be incidental to the acquisition or sale of a prescribed interest in land or a stratum unit or of a proprietary right in respect of a dwelling if, and only if:
(a) in the case of an acquisition of a prescribed interest in land on which the employee or associate concerned proposes to construct, or complete the construction of, a building constituting or containing a dwelling - the recipients expenditure is in respect of any of the following matters:
(i) stamp duty;
(ii) legal services;
(iii) agent's services;
(iv) discharge of a mortgage;
(v) expenses of borrowing;
being a matter of a capital nature that is incidental to the construction, or the completion of the construction, of that building;
(vi) any similar matter;
(b) in all cases - the recipients expenditure is in respect of any of the following matters:
(i) stamp duty;
(ii) advertising;
(iii) legal services;
(iv) agent's services;
(v) discharge of a mortgage;
(vi) expenses of borrowing;
being a matter of a capital nature that is incidental to the acquisition or sale of the interest or right; and
(vii) any similar matter;
(c) in all cases - the recipients expenditure is not in respect of:
(i) interest;
(ii) repayments of principal;
(iii) loan service fees;
(iv) the discharge of a mortgage, or expenses of borrowing, where the money borrowed was not applied wholly in respect of the land, stratum unit or proprietary right or in respect of a building on the land;
(v) insurance; or
141A(2) [Recipients benefit]
(vi) rates.
For the purposes of this Act, a recipients benefit shall be taken to be incidental to the acquisition or sale of a prescribed interest in land or a stratum unit or of a proprietary right in respect of a dwelling if, and only if:
(a) the recipients benefit consists of any of the following matters:
(i) advertising;
(ii) legal services;
(iii) agent's services;
(iv) services related to borrowing;
being a matter of a capital nature that is incidental to the acquisition or sale of the interest or right; and
(v) any similar matter;
(b) the recipients benefit does not consist of or relate to:
(i) insurance; or
(ii) services related to borrowing where the money borrowed was not applied wholly in respect of the land, stratum unit or proprietary right or in respect of a building on the land.
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