Taxation Laws Amendment (FBT Cost of Compliance) Act 1995 (145 of 1995)

Schedule 2   CAR PARKING

Part 1   AMENDMENT OF THE FRINGE BENEFITS TAX ASSESSMENT ACT 1986

Division 1   Additional test to be satisfied in relation to a car parking benefit

2   Section 39A

Add at the end:

"(2) For the purposes of this section:

(a) the carparking threshold for the FBT year beginning on 1 April 1999 is $5.00; and

(b) for later years the carparking threshold is the threshold for the

previous FBT year as adjusted on the first business day of the later

FBT year by a factor equivalent to the movement in the preceding twelve

months in the All Groups Consumer Price Index number (being the

weighted average of the 8 capital cities) published by the Australian

Statistician.

"(3) Subject to subsection (4), if at any time, whether before or

after the commencement of this Act, the Australian Statistician has

published or publishes an index number in respect of a quarter in

substitution for an index number previously published by the Australian

Statistician in respect of that quarter, the publication of the later

index number is to be disregarded for the purposes of this section.

"(4) If at any time, whether before or after the commencement of this

section, the Australian Statistician has changed or changes the

reference base for the Consumer Price Index, then, for the purposes of

the application of this section after the change, regard is to be had

only to the index numbers published in terms of the new reference

base.".