Fringe benefits tax: for the purposes of section 135C of the Fringe Benefits Tax Assessment Act 1986, what is the exemption threshold for the fringe benefits tax year commencing on 1 April 2019?
Please note that the PDF version is the authorised version of this ruling.For information on the exemption threshold for future fringe benefits tax years, refer to Fringe benefits tax - rates and thresholds.
Relying on this Ruling
This publication (excluding appendices) is a public ruling for the purposes of the Taxation Administration Act 1953.
If this ruling applies to you, and you correctly rely on it, we will apply the law to you in the way set out in the ruling. That is, you will not pay any more tax or penalties or interest in respect of the matters covered by this ruling
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Date of effect
Commissioner of Taxation
27 March 2019
Appendix 1 - Explanation
|This Appendix is provided as information to help you understand how the Commissioner's view has been reached. It does not form part of the binding public ruling.|
- a base year needs to be established, and
- during the FBT year immediately before the current year, the employer has not received a notice from the Commissioner requiring the employer to resume record keeping.
4. Section 135C of the Fringe Benefits Tax Assessment Act 1986 sets out a number of conditions that must be met before an FBT year is a base year of an employer. One of the conditions is that the employer's aggregate fringe benefits amount in the base year does not exceed the exemption threshold.
5. The exemption threshold set in this Determination has been ascertained by applying an indexation factor of 1.019 (reflecting the movement in the All Groups Consumer Price Index for the eight capital cities for the year ending 31 December 2018) to the previous year's threshold.
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