Tax Laws Amendment (Small Business Measures No. 3) Act 2015 (114 of 2015)

Schedule 3   FBT and portable electronic devices

Fringe Benefits Tax Assessment Act 1986

2   Subsection 58X(4)

Repeal the subsection, substitute:

(4) However, subsection (3) does not apply if:

(a) the later item is a replacement for the other item; or

(b) the later item is a portable electronic device, and the employer is a small business entity for:

(i) the year of income starting most recently after the start of the FBT year; or

(ii) the year of income ending most recently after the start of the FBT year.

Example: For paragraph (a), the later item would be a replacement for the other item if the other item were lost or destroyed, or needed replacing because of developments in technology.