9.7 Other reductions in taxable value
A number of fringe benefits attract concessional treatment. The concession is a reduction in the taxable value of the fringe benefit that results in a reduced amount of FBT, or even no FBT, being payable.
You calculate the taxable value of an expense payment fringe benefit in accordance with the valuation rules explained in sections 9.2 and 9.3. Where the otherwise deductible rule applies, you then reduce the taxable value as explained in section 9.4.
If the fringe benefit is of a type that attracts any of the concessions listed below, you may reduce the taxable value further. In some instances, special conditions must be satisfied before the concession applies - for example, keeping certain records.
The following is a list of reductions that may apply to expense payment fringe benefits:
- in-house fringe benefits - tax-free threshold
- remote area residential fuel
- remote area housing assistance
- remote area holiday transport
- remote area home ownership schemes
- overseas employment holiday transport
- relocation transport - where transport is by employee's car
- relocation - temporary accommodation and meals
- employment interviews and selection tests - where transport is by employee's car
- occupational health and migrant language training - where transport is by employee's car
- living away from home - food provided
- entertainment expense payments
- overseas employees - education of children.
For details of the reductions, refer to Reductions in fringe benefit taxable value.