Fringe Benefits Tax Assessment Act 1986

PART III - FRINGE BENEFITS  

Division 5 - Expense payment fringe benefits  

Subdivision B - Taxable value of expense payment fringe benefits  

SECTION 22A   TAXABLE VALUE OF IN-HOUSE EXPENSE PAYMENT FRINGE BENEFITS  

22A(1)    
Subject to this Part, the taxable value in relation to a year of tax of an in-house property expense payment fringe benefit (in this subsection called the actual fringe benefit ) provided during the year of tax is the amount that, if:

(a)    the provision of property to which the actual fringe benefit relates were an in-house property fringe benefit (in this subsection called the notional fringe benefit ); and

(b)    the recipients contribution in relation to the notional fringe benefit were equal to the recipients expenditure reduced by whichever of the following amounts is applicable:

(i) the amount of the payment referred to in paragraph 20(a) reduced by the amount of the recipients contribution in relation to the actual fringe benefit;

(ii) the amount of the reimbursement referred to in paragraph 20(b) ;

would have been calculated under section 42 as the taxable value, but for section 44 and Division 14 , of the notional fringe benefit in relation to the year of tax.

22A(2)    
Subject to this Part, the taxable value in relation to a year of tax of an in-house residual expense payment fringe benefit (in this subsection called the actual fringe benefit ) provided during the year of tax is the amount that, if:

(a)    the provision of the residual benefit to which the actual fringe benefit relates were an in-house residual fringe benefit (in this subsection called the notional fringe benefit ); and

(b)    the recipients contribution in relation to the notional fringe benefit were equal to the recipients expenditure reduced by whichever of the following amounts is applicable:

(i) the amount of the payment referred to in paragraph 20(a) reduced by the amount of the recipients contribution in relation to the actual fringe benefit;

(ii) the amount of the reimbursement referred to in paragraph 20(b) ;

would have been calculated under whichever of sections 48 and 49 is applicable as the taxable value, but for section 52 and Division 14 , of the notional fringe benefit in relation to the year of tax.

22A(3)    
For the purposes of subsection (2) , section 49 has effect as if:

(a)    " the current identical benefit in relation to " were omitted from paragraph 49(a) ;

(b)    the reference in paragraph 49(b) to the recipients current benefit were a reference to the recipients overall benefit; and

(c)    " insofar as it relates to the recipients current benefit " were omitted from section 49.

22A(4)    
Where the recipients expenditure in relation to each of 2 or more in-house expense payment fringe benefits (whether or not in relation to the same year of tax) is the same expenditure, this Act applies, and shall be deemed to have applied, as if all the payments or reimbursements to which those fringe benefits relate had been made at the time when the first of those payments or reimbursements was made and not otherwise.

22A(5)    
Nothing in section 74 prevents the amendment of an assessment for the purpose of giving effect to subsection (4) .