Tax Laws Amendment (Budget Measures) Act 2008 (59 of 2008)

Schedule 1   Fringe benefits tax and employee share schemes

Part 1   Fringe benefits tax and related measures

Fringe Benefits Tax Assessment Act 1986

2   At the end of section 41

Add:

(2) This section does not apply to food or drink provided to, and consumed by, an employee if the food or drink is provided:

(a) because of the employee agreeing to receive the food or drink in return for a reduction in the employee’s salary or wages that would not have happened apart from the agreement; or

(b) as part of the employee’s remuneration package, in circumstances where it is reasonable to conclude that the employee’s salary or wages would be greater if the food or drink were not made part of that package.