Federal Register of Legislation - Australian Government

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Fringe Benefits Tax Act 1986

Authoritative Version
  • - C2013C00263
  • In force - Superseded Version
  • View Series
Act No. 40 of 1986 as amended, taking into account amendments up to Fringe Benefits Tax Amendment (DisabilityCare Australia) Act 2013
An Act to impose a tax in respect of the value of certain fringe benefits provided in respect of the employment of employees
Administered by: Treasury
Registered 13 Jun 2013
Start Date 28 May 2013
End Date 24 Jun 2014
Table of contents.

Commonwealth Coat of Arms

Fringe Benefits Tax Act 1986

No. 40, 1986 as amended

Compilation start date:                     28 May 2013

Includes amendments up to:            Act No. 39, 2013

 

About this compilation

The compiled Act

This is a compilation of the Fringe Benefits Tax Act 1986 as amended and in force on 28 May 2013. It includes any amendment affecting the compiled Act to that date.

This compilation was prepared on 13 June 2013.

The notes at the end of this compilation (the endnotes) include information about amending Acts and instruments and the amendment history of each amended provision.

Uncommenced provisions and amendments

If a provision of the compiled Act is affected by an uncommenced amendment, the text of the uncommenced amendment is set out in the endnotes.

Application, saving and transitional provisions for amendments

If the operation of an amendment is affected by an application, saving or transitional provision, the provision is identified in the endnotes.

Modifications

If a provision of the compiled Act is affected by a textual modification that is in force, the text of the modifying provision is set out in the endnotes.

Provisions ceasing to have effect

If a provision of the compiled Act has expired or otherwise ceased to have effect in accordance with a provision of the Act, details of the provision are set out in the endnotes.

  

  

  


Contents

1............ Short title............................................................................................. 1

2............ Commencement................................................................................... 1

3............ Incorporation....................................................................................... 1

4............ Act to bind Crown.............................................................................. 1

5............ Imposition of tax................................................................................. 1

6............ Rate of tax........................................................................................... 1

7............ Severability......................................................................................... 1

Endnotes                                                                                                                                      2

Endnote 1—Legislation history                                                                               2

Endnote 2—Amendment history                                                                             4

Endnote 3—Uncommenced amendments [none]                                            5

Endnote 4—Misdescribed amendments [none]                                               6


An Act to impose a tax in respect of the value of certain fringe benefits provided in respect of the employment of employees

1  Short title

                   This Act may be cited as the Fringe Benefits Tax Act 1986.

2  Commencement

                   This Act shall come into operation on the day on which the Fringe Benefits Tax Assessment Act 1986 comes into operation.

3  Incorporation

                   The Fringe Benefits Tax Assessment Act 1986 is incorporated and shall be read as one with this Act.

4  Act to bind Crown

                   This Act binds the Crown in right of each of the States, of the Northern Territory and of Norfolk Island.

5  Imposition of tax

                   Tax is imposed in respect of the fringe benefits taxable amount of an employer of a year of tax.

6  Rate of tax

                   The rate of tax in respect of the fringe benefits taxable amount of an employer of a year of tax is 47%.

7  Severability

                   It is the intention of the Parliament that if, but for this section, section 5 of this Act would impose a tax on property of any kind belonging to a State within the meaning of section 114 of the Constitution, section 5 of this Act shall have effect as if it did not impose that tax.


Endnotes

 

Endnote 1—Legislation history

This endnote sets out details of the legislation history of the Fringe Benefits Tax Act 1986.

 

Act

Number and year

Assent date

Commencement
date

Application, saving and transitional provisions

Fringe Benefits Tax Act 1986

40, 1986

24 June 1986

24 June 1986 (see s. 2)

 

Taxation Laws Amendment (Rates and Rebates) Act 1989

70, 1989

21 June 1989

21 June 1989

s. 4

Fringe Benefits Tax Amendment Act 1991

213, 1991

24 Dec 1991

24 Dec 1991

s. 4

Taxation (Deficit Reduction) Act (No. 2) 1993

55, 1993

27 Oct 1993

ss. 3–6: Royal Assent (a)

s. 6

Fringe Benefits Tax Amendment Act 1995

55, 1995

28 June 1995

Schedule 2: 1 Apr 1996
Remainder: Royal Assent

Sch. 1 (item 2) and Sch. 2 (item 2)

Tax Laws Amendment (Personal Tax Reduction and Improved Depreciation Arrangements) Act 2006

55, 2006

19 June 2006

Schedule 2: Royal Assent

Sch. 2 (item 2)

Fringe Benefits Tax Amendment (DisabilityCare Australia) Act 2013

39, 2013

28 May 2013

Schedule 1: 28 May 2013 (see s. 2(1))
Remainder: Royal Assent

Sch. 1 (item 2)

 

(a)             The Fringe Benefits Tax Act 1986 was amended by sections. 3–6 only of the Taxation (Deficit Reduction) Act (No. 2) 1993, subsection 2(1) of which provides as follows:

                   (1)  Subject to this section, this Act commences on the day on which it receives the Royal Assent.

 

Endnote 2—Amendment history

This endnote sets out the amendment history of the Fringe Benefits Tax Act 1986.

 

ad. = added or inserted    am. = amended    rep. = repealed    rs. = repealed and substituted    exp. = expired or ceased to have effect

Provision affected

How affected

s. 6......................................

rs. No. 70, 1989

 

am. No. 213, 1991; No. 55, 1993; No. 55, 1995; No. 55, 2006; No. 39, 2013

 

Endnote 3—Uncommenced amendments [none]

There are no uncommenced amendments.

 

Endnote 4—Misdescribed amendments [none]

There are no misdescribed amendments.