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Fringe Benefits Tax Assessment Act 1986
In force
Administered by
Department of the Treasury
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C2026C00015 C01
24 June 1986
-
03 November 1986
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Part I—Preliminary
1 Short title
2 Commencement
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Part II—Administration
3 General administration of Act
4 Annual report
5 Secrecy
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Part III—Fringe Benefits
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Division 1—Preliminary
6 Part not to limit generality of benefit
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Division 2—Car Fringe Benefits
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Subdivision A—Car Benefits
7 Car benefits
8 Exempt car benefits
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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
11 Calculation of depreciation and interest
12 Depreciated value
13 Expenditure to be increased in certain circumstances
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Division 3—Debt Waiver Fringe Benefits
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Subdivision A—Debt Waiver Benefits
14 Debt waiver benefits
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Subdivision B—Taxable Value of Debt Waiver Fringe Benefits
15 Taxable value of debt waiver fringe benefits
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Division 4—Loan Fringe Benefits
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Subdivision A—Loan Benefits
16 Loan benefits
17 Exempt loan benefits
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Subdivision B—Taxable Value of Loan Fringe Benefits
18 Taxable value of loan fringe benefits
19 Reduction of taxable value
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Division 5—Expense Payment Fringe Benefits
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Subdivision A—Expense Payment Benefits
20 Expense payment benefits
21 Exempt accommodation expense payment benefits
22 Exempt car expense payment benefits
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Subdivision B—Taxable Value of Expense Payment Fringe Benefits
23 Taxable value of expense payment fringe benefits
24 Reduction of taxable value
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Division 6—Housing Fringe Benefits
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Subdivision A—Housing Benefits
25 Housing benefits
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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
29 Taxable value of remote area accommodation
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Division 7—Living-away-from-home Allowance Fringe Benefits
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Subdivision A—Living-away-from-home-Allowance Benefits
30 Living-away-from-home allowance benefits
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Subdivision B—Taxable Value of Living-away-from-home Allowance Fringe Benefits
31 Taxable value of living-away-from-home allowance fringe benefits
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Division 8—Airline Transport Fringe Benefits
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Subdivision A—Airline Transport Benefits
32 Airline transport benefits
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Subdivision B—Taxable Value of Airline Transport Fringe Benefits
33 Taxable value of airline transport fringe benefits
34 Reduction of taxable value
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Division 9—Board Fringe Benefits
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Subdivision A—Board Benefits
35 Board benefits
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Subdivision B—Taxable Value of Board Fringe Benefits
36 Taxable value of board fringe benefits
37 Reduction of taxable value
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Division 10—Tax-exempt Body Entertainment Fringe Benefits
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Subdivision A—Tax-exempt Body Entertainment Benefits
38 Tax-exempt body entertainment benefits
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Subdivision B—Taxable Value of Tax-exempt Body Entertainment Fringe Benefits
39 Taxable value of tax-exempt body entertainment fringe benefits
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Division 11—Property Fringe Benefits
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Subdivision A—Property Benefits
40 Property benefits
41 Exempt property benefits
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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
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Division 12—Residual Fringe Benefits
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Subdivision A—Residual Benefits
45 Residual benefits
46 Year of tax in which residual benefits taxed
47 Exempt residual benefits
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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
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Division 13—Miscellaneous
53 Motor vehicle fringe benefit fuel, &c., 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 Provision of benefits to employees of religious institutions to be exempt in certain cases
57A Provision of benefits to employees of public benevolent institutions to be exempt
58 Provision of live-in residential accommodation, or residential fuel, to live-in residential care workers to be exempt benefits
59 Taxable value of certain fringe benefits in respect of remote area residential fuel
60 Reduction of taxable value of certain fringe benefits related to remote area housing
61 Reduction of taxable value of certain fringe benefits in respect of remote area holiday transport
62 Reduction of aggregate taxable value of certain fringe benefits
63 Reduction of taxable value of living-away-from-home food fringe benefits
64 Reduction of taxable value in respect of entertainment component of certain fringe benefits
65 Reduction of taxable value in relation to expenditure on leisure facilities and travel with accompanying relatives
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Part IV—Liability to tax
66 Liability to pay tax
67 Arrangements to avoid or reduce fringe benefits tax
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Part V—Returns and assessments
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Division 1—Returns
68 Annual returns
69 Further returns
70 Requirements for returns
71 Certificate of sources of information
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Division 2—Assessments
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
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Part VI—Objections, reviews and appeals
79 Interpretation
79A Transfer of proceedings
80 Objections
81 Request for reference
82 Applications for extension of time
83 Consideration of applications for extension of time for lodging objections
84 Consideration of applications for extension of time for lodging requests for reference
85 Reference to Tribunal or Court
86 Notice to refer
86A Procedure on review or appeal
86B Case stated to Federal Court
86C Powers of Supreme Court on appeal
86D Appeals from Supreme Court and Federal Court
86E Implementation of decisions
87 Practice and procedure of Supreme Courts
88 Pending review or appeal not to affect assessment
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Part VII—Collection and recovery of tax
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Division 1—General
90 When tax payable
91 Taxpayer leaving Australia
92 Extension of time and payment by instalments
93 Penalty for unpaid tax
94 Recovery of tax
95 Substituted service
96 Liquidators, &c.
97 Recovery of tax from trustee of deceased employer
98 Where no administration of deceased employer’s estate
99 Commissioner may collect tax from person owing money to person liable to tax
100 Person in receipt or control of money of non-resident
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Division 2—Collection by Instalments
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Subdivision A—General
101 Interpretation
102 Liability to pay instalments of tax
103 When instalment of tax payable
104 Application of payments of instalments of tax
105 Unpaid instalments
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Subdivision B—Transitional Year of Tax
106 Notional tax amount
107 Amount of instalment of tax
108 Instalment statement
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Subdivision C—Standard Years of Tax
109 Interpretation
110 Notional tax amount
111 Amount of instalment of tax
112 Estimated tax
113 Notice of alteration of amount of instalment
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Part VIII—Penalty tax
114 Penalty for failure to furnish return
115 Penalty for false or misleading statements
116 Penalty tax where arrangement to avoid tax
117 Assessment of additional tax
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Part IX—Tax agents
118 Interpretation
119 Unregistered tax agents not to charge fees
120 Negligence of registered tax agents
121 Preparation of returns, &c., on behalf of registered tax agents
122 Advertising, &c., by persons other than registered tax agents
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Part X—Retention of statutory evidentiary documents
123 Retention of statutory evidentiary documents
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Part XI—Miscellaneous
124 Assessments
125 Judicial notice of signature
126 Evidence
127 Access to premises, &c.
128 Commissioner to obtain information and evidence
129 Agents and trustees
130 Recovery of tax paid on behalf of another person
131 Right of contribution
132 Records to be kept and preserved
133 Release of employers in cases of hardship
134 Service on partnerships and associations
135 Regulations
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Part XII—Interpretation
136 Interpretation
137 Salary or wages
138 Double counting of fringe benefits
139 Date on which return furnished
140 Eligible urban areas
141 Housing loans
142 Remote area housing
143 Remote area holiday transport
144 Deemed payment
145 Consideration not in cash
146 Amounts to be expressed in Australian currency
147 Obligation to pay or repay an amount
148 Provision of benefits
149 Provision of benefit during a period
150 Credit cards
151 Employee performing services for person other than employer
152 Provision of entertainment
153 Residual benefits to include provision of property in certain circumstances
154 Creation of property
155 Use of property before title passes
156 Supply of electricity or gas through reticulation system
157 Christmas Island
158 Related companies
159 Associates
160 Continuity of employment where business disposed of, &c.
161 Business journeys in car
162 References to holding of car
163 Application of Act
164 Residence
165 Partnerships
166 Unincorporated companies
167 Offences by government bodies
Schedule—Statutory interest rates for periods between 1 January 1946 and 2 April 1986
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Endnotes
Endnote 1—About the endnotes
Endnote 2—Abbreviation key
Endnote 3—Legislation history
Endnote 4—Amendment history
