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Fringe Benefits Tax Assessment Act 1986
No. 39, 1986
In force
Administered by
Department of the Treasury
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C2026C00346 C24
24 December 1992
-
08 June 1993
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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
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
10C Nominated business percentage to be reduced if it exceeds business percentage established during applicable log book period or if it is unreasonable
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—“otherwise deductible” rule
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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
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
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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—non-remote housing
29 Taxable value of remote area accommodation
29A Indexation factor for valuation purposes—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—“otherwise deductible” rule
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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—“otherwise deductible” rule
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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 10A—Car Parking Fringe Benefits
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Subdivision A—Car Parking Benefits
39A Car parking benefits
39B When commercial parking stations are located within a 1 km radius of business premises or associated premises
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Subdivision B—Taxable Value of Car Parking Fringe Benefits
39C Taxable value of tax-exempt body entertainment fringe benefits
39D Taxable value of car parking fringe benefits—market value basis
39E Fees charged by commercial parking stations for all-day parking
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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—“otherwise deductible” rule
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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—“otherwise deductible” rule
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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
58 Exempt benefits—live-in residential care workers
58A Exempt benefits—employment interviews and selection tests
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
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
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
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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
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
64A Reduction of taxable value in relation to expenditure in respect of higher education contribution
65 Reduction of taxable value in relation to expenditure on leisure facilities and travel with accompanying relatives
65A Reduction of taxable value—education of children of overseas employees
65CAA Reduction of taxable value of fringe benefits in relation to 1991-92 year of tax—Cocos (Keeling) Islands
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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
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Division 14B—Reducible Fringe Benefits relating to Remote Area Home Repurchase Schemes
65CC Reducible fringe benefits relating to remote area home repurchase schemes
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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
65G Car deduction percentage
65H Nominated business percentage to be reduced if it exceeds business percentage established during applicable log book period or if it is unreasonable
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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
74A Effect of public ruling
74B Effect of private ruling
74C Assessment where conflicting rulings
74D Final Tribunal decision about private ruling conclusive
74E Final court order about private ruling conclusive
74F Final court order about Commissioner discretion
75 Refund of amounts overpaid
76 Amended assessment to be an assessment
77 Notice of assessment
78 Validity of assessment
78A Objections
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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, etc.
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
115A Penalty tax for over-estimating business percentage applicable to car
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 etc. on behalf of registered tax agents
122 Advertising etc. by persons other than registered tax agents
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Part X—Statutory evidentiary documents
123 Retention of statutory evidentiary documents
123A Car records to be completed before declaration date
123B Substantiation requirements not to apply in special circumstances
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Part XI—Miscellaneous
124 Assessments
124A Assessment on assumption
125 Judicial notice of signature
126 Evidence
127 Access to premises, etc.
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
136A Reimbursement etc. of tax not to be regarded as consideration in respect of benefit etc.
137 Salary or wages
138 Double counting of fringe benefits
138A Benefit provided in respect of a year of tax
138B Benefit provided in respect of the employment of an employee
138C Application or use of benefit
139 Date on which return furnished
140 Eligible urban areas
141 Housing loans, prescribed interests in land or stratum units and proprietary rights in respect of dwellings
141A Benefits incidental to acquisition or sale of prescribed interests in land or stratum units and proprietary rights in respect of dwellings
142 Remote area housing
142A Benefits relating to transport
142B Employee’s new place of employment
142C Eligible shared accommodation in a house, flat or home unit
142D Eligible accommodation in an employees hostel
143 Remote area holiday transport
143A Relocation transport
143B Overseas employees
143C Overseas employment holiday transport
143D Employment interviews and selection tests
143E Work-related medical examinations, work-related medical screening, work-related preventative health care, work-related counselling, migrant language training
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 and Cocos (Keeling) Islands
158 Related companies
159 Associates and relatives
160 Continuity of employment where business disposed of, etc.
161 Business journeys in car
162 Holding of car
162B When car used for the purpose of producing assessable income
162C Holding period of car
162D Deemed specification of matters in car records
162E Unsigned or fraudulent entries in log book records
162F Reasonable estimate of underlying business percentage
162G Log book year of tax
162H Applicable log book period
162J Business percentage established during log book period
162K Replacement cars—car fringe benefits
162L Replacement cars—otherwise deductible provisions
162M Re-acquisition etc. of cars
162N Registration of motor vehicle
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