Compilation No. 93
Compilation date: 15 September 2023
Includes amendments up to: Act No. 69, 2023
Registered: 23 September 2023
This compilation is in 2 volumes
Volume 1: sections 1-78A
Each volume has its own contents
This is a compilation of the Fringe Benefits Tax Assessment Act 1986 that shows the text of the law as amended and in force on 15 September 2023 (the compilation date ).
The notes at the end of this compilation (the endnotes ) include information about amending laws and the amendment history of provisions of the compiled law.
The effect of uncommenced amendments is not shown in the text of the compiled law. Any uncommenced amendments affecting the law are accessible on the Register (www.legislation.gov.au). The details of amendments made up to, but not commenced at, the compilation date are underlined in the endnotes. For more information on any uncommenced amendments, see the Register for the compiled law.
Application, saving and transitional provisions for provisions and amendments
If the operation of a provision or amendment of the compiled law is affected by an application, saving or transitional provision that is not included in this compilation, details are included in the endnotes.
For more information about any editorial changes made in this compilation, see the endnotes.
If the compiled law is modified by another law, the compiled law operates as modified but the modification does not amend the text of the law. Accordingly, this compilation does not show the text of the compiled law as modified. For more information on any modifications, see the Register for the compiled law.
Self - repealing provisions
If a provision of the compiled law has been repealed in accordance with a provision of the law, details are included in the endnotes.
2A Application of the Criminal Code
3 General administration of Act
4 Annual report
Part IIA--Core provisions
Division 1--Working out an employer's fringe benefits taxable amount
5A Simplified outline of this Division
5B Working out an employer's fringe benefits taxable amount
Division 2--Working out an employer's aggregate fringe benefits amount
5C Aggregate fringe benefits amount
Division 3--Employee's individual fringe benefits amount
5D Simplified outline
5E Employee's individual fringe benefits amount
5F Working out the employee's share
Part III--Fringe benefits
6 Part not to limit generality of benefit
Division 2--Car fringe benefits
Subdivision A--Car benefits
8 Exempt car benefits
8A Exempt car benefits: cars that are zero or low emissions vehicles
Subdivision B--Taxable value of car fringe benefits
9 Taxable value of car fringe benefits--statutory formula
10 Taxable value of car fringe benefits--cost basis
10A No reduction of operating cost in a log book year of tax unless log book records and odometer records are maintained
10B No reduction of operating cost in a non - log book year of tax unless log book records and odometer records are maintained in log book year of tax
11 Calculation of depreciation and interest
12 Depreciated value
13 Expenditure to be increased in certain circumstances
Division 3--Debt waiver fringe benefits
Subdivision A--Debt waiver benefits
14 Debt waiver benefits
Subdivision B--Taxable value of debt waiver fringe benefits
15 Taxable value of debt waiver fringe benefits
Division 4--Loan fringe benefits
Subdivision A--Loan benefits
16 Loan benefits
17 Exempt loan benefits
Subdivision B--Taxable value of loan fringe benefits
18 Taxable value of loan fringe benefits
19 Reduction of taxable value-- otherwise deductible rule
Division 5--Expense payment fringe benefits
Subdivision A--Expense payment benefits
20 Expense payment benefits
20A Exemption--no - private - use declaration
21 Exempt accommodation expense payment benefits
Subdivision B--Taxable value of expense payment fringe benefits
22A Taxable value of in - house expense payment fringe benefits
23 Taxable value of external expense payment fringe benefits
24 Reduction of taxable value-- otherwise deductible rule
Division 6--Housing fringe benefits
Subdivision A--Housing benefits
25 Housing benefits
Subdivision B--Taxable value of housing fringe benefits
26 Taxable value of non - remote housing fringe benefits
27 Determination of market value of housing right
28 Indexation factor for valuation purposes--non - remote housing
Division 7--Living - away - from - home allowance fringe benefits
Subdivision A--Living - away - from - home allowance benefits
30 Living - away - from - home allowance benefits
Subdivision B--Taxable value of living - away - from - home allowance fringe benefits
31 Taxable value--employee maintains a home in Australia
31A Taxable value--fly - in fly - out and drive - in drive - out employees
31B Taxable value--any other case
Subdivision C--Related provisions
31C Maintaining a home in Australia
31D First 12 months employee is required to live away from home
31E Fly - in fly - out and drive - in drive - out requirements
31G Substantiating related expenses
31H Exempt food component
Division 9--Board fringe benefits
Subdivision A--Board benefits
35 Board benefits
Subdivision B--Taxable value of board fringe benefits
36 Taxable value of board fringe benefits
37 Reduction of taxable value-- otherwise deductible rule
Division 9A--Meal entertainment
Subdivision A--Meal entertainment
37A Key principle
37AA Division only applies if election made
37AB Employee contributions to be excluded
37AC Meal entertainment benefits
37AD Meaning of provision of meal entertainment
37AE Fringe benefits only arise if employer is provider
37AF No other fringe benefits arise if election made
37AG Some benefits still arise
Subdivision B--50/50 split method of valuing meal entertainment
37B Key principle
37BA Taxable value using 50/50 split method
Subdivision C--12 week register method
37C Key principle
37CA Election by employer
37CB Taxable value using 12 week register method
37CC Choosing the 12 week period for a register
37CD FBT years for which register is valid
37CE Matters to be included in register
37CF False or misleading entries invalidate register
Division 10--Tax - exempt body entertainment fringe benefits
Subdivision A--Tax - exempt body entertainment benefits
38 Tax - exempt body entertainment benefits
Subdivision B--Taxable value of tax - exempt body entertainment fringe benefits
39 Taxable value of tax - exempt body entertainment fringe benefits
Division 10A--Car parking fringe benefits
Subdivision A--Car parking benefits
39A Car parking benefits
39AA Anti - avoidance--fee on first business day not representative
39AB When fees are not representative
39B When commercial parking stations are located within a 1 km radius of business premises or associated premises
Subdivision B--Taxable value of car parking fringe benefits
39C Taxable value of car parking fringe benefits-- commercial parking station method
39D Taxable value of car parking fringe benefits-- market value basis
39DA Taxable value of car parking fringe benefits-- average cost method
39E Fees charged by commercial parking stations for all - day parking
Subdivision C--Statutory formula method--spaces
39F The key principle
39FA Spaces method of calculating total taxable value of car parking fringe benefits
39FB Number of spaces exceeds number of employees
39FC Meaning of daily rate amount
39FD Meaning of availability period
39FE Meaning of relevant recipients contribution
Subdivision D--12 week record keeping method
39G The key principle
39GA Employer may elect to use 12 week record keeping method
39GB Value of fringe benefits for year
39GC Meaning of total value of car parking benefits (register)
39GD Meaning of car parking availability period
39GE Choosing the 12 week period for a register
39GF FBT years for which register is valid
39GG Matters to be included in register
39GH Fraudulent entries invalidate register
Division 11--Property fringe benefits
Subdivision A--Property benefits
40 Property benefits
41 Exempt property benefits
Subdivision B--Taxable value of property fringe benefits
42 Taxable value of in - house property fringe benefits
43 Taxable value of external property fringe benefits
44 Reduction of taxable value-- otherwise deductible rule
Division 12--Residual fringe benefits
Subdivision A--Residual benefits
45 Residual benefits
46 Year of tax in which residual benefits taxed
47 Exempt residual benefits
47A Exemption--no - private - use declaration
Subdivision B--Taxable value of residual fringe benefits
48 Taxable value of in - house non - period residual fringe benefits
49 Taxable value of in - house period residual fringe benefits
50 Taxable value of external non - period residual fringe benefits
51 Taxable value of external period residual fringe benefits
52 Reduction of taxable value-- otherwise deductible rule
Division 13--Miscellaneous exempt benefits
53 Motor vehicle fringe benefit fuel etc. to be exempt in certain cases
54 Provision of food or drink to be exempt benefit in certain cases
55 Benefits provided by certain international organisations to be exempt
56 Preservation of diplomatic and consular immunities
57 Exempt benefits--employees of religious institutions
57A Exempt benefits--public benevolent institutions, health promotion charities, some hospitals and public ambulance services
58 Exempt benefits--live - in residential care workers
58A Exempt benefits--employment interviews and selection tests
58AA Exempt benefits--engagement of relocation consultant
58B Exempt benefits--removals and storage of household effects as a result of relocation
58C Exempt benefits--sale or acquisition of dwelling as a result of relocation
58D Exempt benefits--connection or re - connection of certain utilities as a result of relocation
58E Exempt benefits--leasing of household goods while living away from home
58F Exempt benefits--relocation transport
58G Exempt benefits--motor vehicle parking
58GA Exempt benefits--small business car parking
58H Exempt benefits--newspapers and periodicals used for business purposes
58J Exempt benefits--compensable work - related trauma
58K Exempt benefits--in - house health care facilities
58L Exempt benefits--certain travel to obtain medical treatment
58LA Exempt benefits--compassionate travel
58M Exempt benefits--work - related medical examinations, work - related medical screening, work - related preventative health care, work - related counselling, migrant language training
58N Exempt benefits--emergency assistance
58P Exempt benefits--minor benefits
58PA Exempt benefits--worker entitlement contributions
58PB Meaning of approved worker entitlement funds
58Q Exempt benefits--long service awards
58R Exempt benefits--safety awards
58S Exempt benefits--trainees engaged under Australian Traineeship System
58T Exempt benefits--live - in domestic workers employed by religious institutions or by religious practitioners
58U Exempt benefits--live - in help for elderly and disadvantaged persons
58V Exempt benefits--food and drink for non - live - in domestic employees
58X Exempt benefits--provision of certain work related items
58Y Exempt benefits--membership fees and subscriptions
58Z Exempt benefits--taxi travel
58ZB Exempt benefits--approved student exchange programs
58ZC Exempt benefits--remote area housing benefits
58ZD Exempt benefits--meals on working days
58ZE Exempt benefits--provision of certain education or training
Division 14--Reduction of taxable value of miscellaneous fringe benefits
59 Reduction of taxable value--remote area residential fuel
60 Reduction of taxable value--remote area housing
60AA Guideline price for repurchase of remote area residential property
60A Reduction of taxable value--remote area holiday transport fringe benefits subject to ceiling
61 Reduction of taxable value--remote area holiday transport fringe benefits not subject to ceiling
61A Reduction of taxable value--overseas employment holiday transport
61B Reduction of taxable value of certain expense payment fringe benefits in respect of relocation transport
61C Reduction of taxable value--temporary accommodation relating to relocation
61D Reduction of taxable value of temporary accommodation meal fringe benefits
61E Reduction of taxable value of certain expense payment fringe benefits in respect of employment interviews or selection tests
61F Reduction of taxable value of certain expense payment fringe benefits associated with work - related medical examinations, work - related medical screenings, work - related preventative health care, work - related counselling or migrant language training
61G Reduction of taxable value of fringe benefits if certain deductions relating to payments to associates are not allowed
62 Reduction of aggregate taxable value of in - house fringe benefits
63 Reduction of taxable value of living - away - from - home food fringe benefits
63A Reduction of taxable value in respect of entertainment component of certain fringe benefits
65A Reduction of taxable value--education of children of overseas employees
Division 14A--Amortisation of taxable value of fringe benefits relating to remote area home ownership schemes
65CA Amortisation of taxable value of fringe benefits relating to remote area home ownership schemes
65CB Amendment of assessments
Division 14B--Reducible fringe benefits relating to remote area home repurchase schemes
65CC Reducible fringe benefits relating to remote area home repurchase schemes
Division 15--Car substantiation rules for otherwise deductible provisions
65D Car substantiation rules
65E No compliance with substantiation rules in log book year of tax unless log book records and odometer records are maintained
65F No compliance with substantiation rules in non - log book year of tax unless log book records kept in previous log book year of tax
Part IIIA--Rebates of tax
65J Rebate for certain not - for - profit employers etc.
Part IV--Liability to tax
66 Liability to pay tax
67 Arrangements to avoid or reduce fringe benefits tax
Part V--Returns and assessments
68 Annual returns
69 Further returns
70 Keeping records of indirect tax transactions
70D Tax agent to give taxpayer copy of notice of assessment
72 First return deemed to be an assessment
73 Default assessments
74 Amendment of assessments
75 Refund of amounts overpaid
76 Amended assessment to be an assessment
77 Notice of assessment
78 Validity of assessment
The endnotes provide information about this compilation and the compiled law.
The following endnotes are included in every compilation:
Endnote 1--About the endnotes
Endnote 2--Abbreviation key
Endnote 3--Legislation history
Endnote 4--Amendment history
Abbreviation key--Endnote 2
The abbreviation key sets out abbreviations that may be used in the endnotes.
Legislation history and amendment history--Endnotes 3 and 4
Amending laws are annotated in the legislation history and amendment history.
The legislation history in endnote 3 provides information about each law that has amended (or will amend) the compiled law. The information includes commencement details for amending laws and details of any application, saving or transitional provisions that are not included in this compilation.
The amendment history in endnote 4 provides information about amendments at the provision (generally section or equivalent) level. It also includes information about any provision of the compiled law that has been repealed in accordance with a provision of the law.
The Legislation Act 2003 authorises First Parliamentary Counsel to make editorial and presentational changes to a compiled law in preparing a compilation of the law for registration. The changes must not change the effect of the law. Editorial changes take effect from the compilation registration date.
If the compilation includes editorial changes, the endnotes include a brief outline of the changes in general terms. Full details of any changes can be obtained from the Office of Parliamentary Counsel.
A misdescribed amendment is an amendment that does not accurately describe how an amendment is to be made. If, despite the misdescription, the amendment can be given effect as intended, then the misdescribed amendment can be incorporated through an editorial change made under section 15V of the Legislation Act 2003 .
If a misdescribed amendment cannot be given effect as intended, the amendment is not incorporated and "(md not incorp)" is added to the amendment history.