FRINGE BENEFITS TAX ASSESSMENT ACT 1986

PART III - FRINGE BENEFITS  

Division 14 - Reduction of taxable value of miscellaneous fringe benefits  

SECTION 62   REDUCTION OF AGGREGATE TAXABLE VALUE OF IN-HOUSE FRINGE BENEFITS  

62(1)  


Where one or more in-house fringe benefits in relation to an employer in relation to a year of tax relate to a particular employee of the employer, the taxable value of that fringe benefit, or the sum of the taxable values of those fringe benefits, as the case may be, in relation to that year shall be reduced by:


(a) if the taxable value or the sum of the taxable values does not exceed $1,000 - an amount equal to the taxable value or the sum of the taxable values; or


(b) in any other case - $1,000.

62(2)  


Subsection (1) does not apply to an in-house fringe benefit provided under a salary packaging arrangement.



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