This table details changes and updates to the 2005 publication of Fringe benefits tax: a guide for employers (NAT 1054). It is updated in date order within each chapter.
An updated version of this publication will be available soon and therefore this table will not be required.
Chapter of guide updated
Date
Page No.
Section of guide updated and link
Description of update
1
12/12/2005
3
1.6 Reducing your FBT liability
Under 'Use employee contributions' addition of information regarding journal entries and third party not an associate.
6
More information
Inclusion of a 'more information' box referring to MT 2050 and TR 2001/10 and addendum
2
8
2.8 Employee contributions
Addition of information regarding journal entries and third party not an associate.
10
Inclusion of a 'more information' box referring to MT 2050
4
10/03/2005
19
Removal of reference to TR 97/21
25/05/2005
4.6 Record keeping exemption arrangements
Record keeping exemption threshold Y/E 31/3/06
Addition of TD 2005/11
15/06/2005
Addition of TR 2005/9
5
12/05/2005
20
5.2 Excluded fringe benefits
Addition of specific police officer exclusions
8/09/2005
21
5.5 Consequences of having an amount included on a payment summary
Included 'mature age worker tax offset' and 'HELP' to the list of income tests
2/06/2005
30
Removal of reference to TD 94/98
9/06/2005
26
6.2 Public and non-profit hospitals
Inclusion of public ambulance services
7/07/2005
27
6.3 Rebatable employers
Inclusion of attention box information
18/01/2006
In attention box, added in information regarding charitable funds not rebatable employers. Removed ITECs endorsement information no longer relevant.
7
11/03/2005
Corrected title of TD 94/16
7/06/2005
Removed reference to withdrawn TD 96/34
27/07/2005
Addition of MR 2024A2
33
7.4 Statutory formula method
Under 'Determining the employee contribution' - addition of information regarding journal entries and third party not an associate
35
7.5 Operating cost method
Addition of information regarding journal entries and third party not an associate
20/05/2005
42
8.4 Statutory interest rate
Interest rate for year commencing 1/4/2005
47
Included reference to TD 2005/8
9
55
Removed reference to withdrawn ruling IT 2308
54
9.9 Common expenses reimbursed or paid for by employers
Amended wording for personal credit card payments
59
10.7 Reductions in taxable value
'Relocation - temporary accommodation' - 'to nil' removed
61
10.8 Exempt housing benefits
'Extension of the remote area housing exemption for some regional employers' - wording amended and included FBT Assessment Act reference
11/07/2005
Addition of PS LA 2000/6
Amendments to text under 'remote area housing benefits'
19/10/2005
56
10.1 What is a housing fringe benefit?
Update the first paragraph for technical clarity
Addition of paragraph at the end to include situation where water is provided under a residential tenancy agreement
11
13/05/2005
64
Addition of TD 2005/12
12
65
12.3 Stand-by value
Expanded the information on 'stand-by value'
13
13/12/2005
67
13.2 Taxable value
Added information regarding situation where employer has agreement that employee will contribute towards board meals and accommodation
14
74
Addition of TD 94/25A
16
83
Addition of TD 2005/18
26/07/2005
79
16.6 Taxable value - the 12 week register method
Formula corrected to 366 days
80
16.7 Taxable value - the statutory formula method
17
91
Removal of IT 2308
22/11/2005
84/5
17.3 Taxable value - in-house property fringe benefits
Update of taxable value and market value terminology
85
17.4 Taxable value - external property fringe benefits
Update of taxable value terminology
02/02/2006
17.9 Exempt property benefits
Update payments to worker entitlement funds for technical clarity
18
93
18.6 Taxable value of motor vehicles other than cars
2006 cents per km rates
99
Addition of TD 2005/9
3/08/2005
Addition of MT2024A2
100
19.2 Remote area reductions
'Residential fuel (section 59)' - Attention box added regarding water provided under a residential tenancy agreement
15/12/2005
107
19.5 Other reductions
Expanded information under 'Overseas employees - education of children' for technical clarity
2/05/2005
113
20.4 Relocation exemptions
'Relocation - sale or acquisition of dwelling (section 58C)' - new text included
118-119
20.8 Other exemptions
Changes to LSL thresholds (section 58Q)
Insertion of text relating to engagement of relocation consultants (section 58AA)
115
20.6 Property exemptions
WEF exemption - extension to 31/3/2006
15/08/2005
119
Under 'Provision of certain work-related items (section 58X)' added in PDAs. Also information on exemption of portable printers from 1/4/06.
19/12/2005
Under 'Worker entitlement funds' updated for consistency with other products.
Last Modified: Thursday, 22 June 2006
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