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

Schedule 5   OTHER AMENDMENTS OF THE FRINGE BENEFITS TAX ASSESSMENT ACT 1986

29   Subsections 123B(1) and (2)

Omit the subsections, substitute:

"(1) The substantiation rules do not apply in relation to a benefit

if the nature and quality of evidence that a person has satisfies the

Commissioner that the taxable value of the benefit is not greater than

the amount specified in the taxpayer's return for the FBT year as the

taxable value of that benefit.".