Fringe Benefits Tax Assessment Act 1986
Subject to this section, a residual benefit that is provided during a period shall be deemed to have been provided in respect of each year of tax during which any part of that period occurred. 46(2)
Where: (a) a residual benefit (in this subsection referred to as the eligible benefit ), not being a residual benefit constituted by a lease or licence in respect of property, is provided on the basis that, in respect of each of a number of regular periods (in this subsection referred to as a billing period ) commencing on or after 1 July 1986 (whether or not there were any such periods before that date), a payment is to be made in respect of the provision of the benefit during the billing period; and (b) identical benefits are provided to members of the public on the same basis and in the ordinary course of a business carried on by the person providing the eligible benefit;
the following provisions have effect:(c) the provision of the eligible benefit during each billing period shall be taken to constitute a separate benefit; (d) each such separate residual benefit shall be deemed to have been provided at the time at which the payment in respect of the billing period concerned is due and payable, and not otherwise.
[ CCH Note: Modification Declaration FRLI No F2021L00261 (FRLI No F2021L00261, registered on 19 March 2021 and effective from 1 April 2021.)
Section 46 of the Act is modified by substituting the section:
SECTION 46 CONTRIBUTION ASSESSMENT PERIOD IN WHICH RESIDUAL FRINGE BENEFITS ARE TO BE ASSESSED
A residual benefit that is provided during a period which extends over 2 or more contribution assessment periods is subject to assessment for income contribution in each of those periods.