Taxation Determination

TD 2000/22

Fringe benefits tax: for the purposes of section 135C of the Fringe Benefits Tax Assessment Act 1986 (FBTAA) what is the exemption threshold for the fringe benefits tax (FBT) year commencing on 1 April 2000?

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FOI status:

may be releasedFOI number: I 102858

Preamble
The number, subject heading, date of effect and paragraphs 1 to 3 of this Taxation Determination are a 'public ruling' for the purposes of Part IVAAA of the Taxation Administration Act 1953 and are legally binding on the Commissioner. The remainder of the Determination is administratively binding on the Commissioner. Taxation Rulings TR 92/1 and TR 97/16 together explain how a Determination is legally or administratively binding.
Date of effect
This Determination applies to years commencing both before and after its date of issue. However, this Determination does not apply to taxpayers to the extent that it conflicts with the terms of settlement of a dispute agreed to before the date of the Determination (see paragraphs 21 and 22 of Taxation Ruling TR 92/20).

1. The exemption threshold for the FBT year commencing on 1 April 2000 is $5268. This replaces the amount of $5,191 that applied in the previous year.

2. Two conditions must be satisfied for the record keeping exemption arrangements to apply to an employer for an FBT year. The first condition requires a base year to be established.

3. Section 135C sets out a number of conditions that must be met before an FBT year is a base year of an employer.

4. One of the conditions is that the 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 1.015 (reflecting the movement in the All Groups Consumer Price Index for the eight capital cities for the year ending 31 December 1999) to the 1999/2000 value.

Commissioner of Taxation
10 May 2000

Not previously issued in draft form

References

ATO references:
NO T2000/007532

ISSN: 1038-8982

Related Rulings/Determinations:

TD 1999/44

Subject References:
FBT;
record keeping exemption arrangements;
RKEA;
exemption threshold;
fringe benefits tax;
base year;
record-keeping requirements.

Legislative References:
FBTAA 135C

TD 2000/22 history
  Date: Version: Change:
You are here 10 May 2000 Original ruling  
  4 May 2016 Withdrawn