Fringe benefits tax: what are the indexation factors for valuing non-remote housing and remote area housing for the fringe benefits tax (FBT) year commencing on 1 April 1999?
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FOI status:may be releasedFOI number: I 1018430
1. The indexation factors for the purpose of valuing non-remote housing for the fringe benefits tax year commencing 1 April 1999 are:
|New South Wales||1.042|
|Australian Capital Territory||0.985|
2. These factors are based on movements in the rent sub-group of the Consumer Price Index. They may be applied to the previous year's housing values instead of working out a new market value for the year.
Remote area housing
Statutory amount method
3. The following are the statutory amounts for employee housing situated in remote areas of Australia:
- for general housing $5,751 ($109.98 weekly)
- for single quarters $1,434 ($27.43 weekly).
4. These values are calculated by applying an indexation factor of 1.031 (reflecting the weighted average movement in the rent sub-group for the eight capital cities) to the 1998-99 values. Employers may use them as a simple alternative to calculating benefits based on market values.
Market valuation method
5. Where employers use the market valuation method, the non-remote housing indexation factor for the relevant state is to be used. These are set out in paragraph 1.
Commissioner of Taxation
28 April 1999
No draft issued
BO FBT 156
FBT remote area housing
fringe benefits tax
housing fringe benefits
housing indexation figures
|You are here||28 April 1999||Original ruling|
|4 May 2016||Withdrawn|