FRINGE BENEFITS TAX ASSESSMENT REGULATIONS 2018
For the purposes of item 4 of the table in subsection 110(1) of the Act:
(a) this section provides for varying the notional tax amount of employers for the current year; and
(b) the prescribed day is 1 April 2006; and
(c) the amount worked out under item 1 of the table in subsection 110(1) of the Act for the employer is varied by applying the formula in subsection (2).
13(2)
The formula is as follows:
| Amount of the employer ' s fringe benefits tax for the base year | × | Current year rate of tax |
| Base year rate of tax |
where:
base year rate of tax means the rate of tax, specified in section 6 of the Fringe Benefits Tax Act 1986 , in respect of the employer ' s fringe benefits taxable amount for the base year.
current year rate of tax means the rate of tax, specified in section 6 of the Fringe Benefits Tax Act 1986 , in respect of the employer ' s fringe benefits taxable amount for the current year.
Note:
For the base year and current year , see subsection 110(1) of the Act.
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