Fringe Benefits Tax Assessment Act 1986
Subject to this Part, the taxable value of a board fringe benefit in relation to a year of tax is: (a) in a case where the recipient had attained the age of 12 years before the beginning of the year of tax - $2.00; or (b) in any other case - $1.00;
reduced by the amount of the recipients contribution.
[ CCH Note: Modification Declaration FRLI No F2021L00261 ( Bankruptcy Regulations 2021 : FRLI No F2021L00261, registered on 19 March 2021 and effective from 1 April 2021.)
Section 36 of the Act is modified by substituting the section:
where:
CPI
SECTION 36 TAXABLE VALUE OF BOARD FRINGE BENEFITS
]
36
Subject to this Part, the value of a board fringe benefit is:
(a)
in relation to a contribution assessment period beginning:
(i)
on 1 July 1992; or
$1; and
(ii)
during the year beginning on 1 July 1992;
(b)
in relation to a later contribution assessment period
-
a sum worked out according to the formula:
1
×
CPI
is the increase in the All Groups Consumer Price Index number that is the weighted average of the 8 capital cities published by the Australian Statistician in respect of the period that commences on 1 July 1992 and ends immediately before the start of the financial year in which the contribution assessment period commences.
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