Bankruptcy Regulations 1996

SCHEDULE 4 - MODIFICATIONS OF THE FRINGE BENEFITS TAX ASSESSMENT ACT 1986  

(regulation 6.12 )

19   Section 36 (Taxable value of board fringe benefits)  

19.1    
Omit the section, substitute:

' 36	Taxable value of board fringe benefits
	Subject to this Part, the value of a board fringe benefit is:
	(a)	in relation to a contribution assessment period beginning:
		(i)	on 1 July 1992; or
		(ii)	during the year beginning on 1 July 1992; $1; and
	(b)	in relation to a later contribution assessment period - a sum worked out according to the formula:
1   ×   CPI
		where:
		CPI is the increase in the All Groups Consumer Price Index number that is the weighted average of the 8 capital cities published by the Australian Statistician in respect of the period that commences on 1 July 1992 and ends immediately before the start of the financial year in which the contribution assessment period commences. ' .