Tax Laws Amendment (Small Business) Act 2007 (80 of 2007)
Schedule 5 Fringe benefits tax: car parking exemption
Fringe Benefits Tax Assessment Act 1986
1 Paragraph 58GA(1)(d)
Repeal the paragraph, substitute:
(d) either:
(i) the sum of the employer’s ordinary income and statutory income for the year of income ending most recently before the start of the FBT year is less than $10 million; or
(ii) the employer is a small business entity for the year of income ending most recently before the start of the FBT year.
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