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

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

32   After section 132

Insert:

Written evidence not available when return lodged

"132A.(1) This section applies if:

(a) a provision of this Act requires documentary evidence of an

expense to be given to, or obtained by, an employer before the

declaration date for an employer for an FBT year; and

(b) at the date of lodgment of the employer's return of the fringe

benefits taxable amount for the FBT year:

(i) the employer has not been given, or has not obtained, the

documentary evidence;

but:

(ii) the employer has good reason to expect that he or she will be

given, or will obtain, that evidence within a reasonable time.

"(2) If this section applies:

(a) the employer may complete his or her return as if the documentary

evidence had been given to, or obtained by, him or her by the date of

lodgment; and

(b) if the evidence is given to, or obtained by, the employer within

a reasonable time-this Act applies as if the documentary evidence had

been given to, or obtained by, the employer before the declaration

date; and

(c) if the evidence is not given to, or obtained by, the employer

within a reasonable time-the employer must notify the Commissioner in

writing that the evidence has not been obtained.".