Fringe Benefits Tax Assessment Act 1986

PART III - FRINGE BENEFITS  

Division 14 - Reduction of taxable value of miscellaneous fringe benefits  

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[ CCH Note: Modification Declaration FRLI No F2021L00261 ( Bankruptcy Regulations 2021 : FRLI No F2021L00261, registered on 19 March 2021 and effective from 1 April 2021.)

Divisions 14, 14A and 14B of Part III of the Act are modified by repealing the Divisions.]

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History

Heading to Div 14 inserted by No 139 of 1987.

SECTION 61E  

61E   REDUCTION OF TAXABLE VALUE OF CERTAIN EXPENSE PAYMENT FRINGE BENEFITS IN RESPECT OF EMPLOYMENT INTERVIEWS OR SELECTION TESTS  

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Where:

(a)    an expense payment fringe benefit in respect of an employment interview or selection test is provided in a year of tax to an employee of an employer in respect of the employment of the employee;

(b)    

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the fringe benefit is constituted by the reimbursement of the recipient, in whole or in part, in respect of an amount of a Division 28 car expense incurred by the recipient in relation to a car owned by, or leased to, the recipient, being a reimbursement calculated by reference to the distance travelled by the car; and

(c)    

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the recipient gives to the employer, before the declaration date, a declaration, in a form approved by the Commissioner, purporting to set out the number of whole kilometres travelled by the car in providing transport by virtue of which the benefit is in respect of an employment interview or selection test;

the amount that, but for this section, would be the taxable value of the fringe benefit in relation to the year of tax shall be reduced by so much of the amount of the reimbursement as does not exceed the reimbursement that would have been paid if it had been calculated on the basis of the basic car rate.

[ CCH Note: Legislative Instrument F2024L00329, made under s 123AA of the Fringe Benefits Tax Assessment Act 1986 and effective for the FBT year ending 31 March 2025 and all subsequent years, allows an employer to which the instrument applies to accept adequate alternative records instead of a declaration referred to in s 61E(c) . Section 6 of the instrument sets out adequate alternative records that can be accepted instead of a relevant employee declaration. Records can only be accepted as an alternative to the declaration if they are obtained and held by the employer by the employer ' s declaration date.]

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History

S 61E amended by No 69 of 2023, s 3 and Sch 4 item 46, by substituting para (c), effective 15 September 2023. Para (c) formerly read:

(c) the recipient gives to the employer, before the declaration date, a declaration, in a form approved by the Commissioner, purporting to set out:

(i) particulars of the car; and

(ii) the number of whole kilometres travelled by the car in providing transport by virtue of which the benefit is in respect of an employment interview or selection test;

S 61E amended by No 39 of 1997, No 30 of 1995, No 57 of 1993, No 100 of 1991 and No 11 of 1989, and inserted by No 139 of 1987.

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