Miscellaneous Taxation Ruling

MT 2022W

Fringe benefits tax : purchased goods sold by retailers to employees at cost or above: liability for tax and record keeping requirements

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Notice of Withdrawal

Miscellaneous Taxation Ruling MT 2022 is withdrawn with effect from today.

1. Miscellaneous Taxation Ruling MT 2022 was issued on 28 August 1986. It explained that a taxable fringe benefit does not arise for FBT purposes where purchased goods are sold by a retailer to their employee at or above the cost price to the retailer. As such the retailer did not have to keep records of the sales.

2. However, there has been legislative changes since that advice that are not recognised in MT 2022 and as such, some information provided no longer reflects the current legislative provisions.

3. The advice provided in MT 2022 has, over time, been incorporated into the public advice product Fringe benefits tax: a guide for employers. The information in that guide provides more detailed information in relation to this issue and is reflective of the current operation of the law.

4. Therefore, as MT 2022 is no longer required this Ruling is being withdrawn.

Commissioner of Taxation
31 July 2019

© AUSTRALIAN TAXATION OFFICE FOR THE COMMONWEALTH OF AUSTRALIA

You are free to copy, adapt, modify, transmit and distribute this material as you wish (but not in any way that suggests the ATO or the Commonwealth endorses you or any of your services or products).

References

ATO references:
NO 1-GV9U4Q1

ISSN: 2205-6130
MT 2022W history
  Date: Version: Change:
  28 August 1986 Original ruling  
You are here 31 July 2019 Withdrawn