Fringe benefits tax: for the purposes of section 39A of the Fringe Benefits Tax Assessment Act 1986 what is the car parking threshold for the fringe benefits tax year commencing on 1 April 2004?
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FOI status:may be released
|The number, subject heading, date of effect and paragraph 1 of this document are a 'public ruling' for the purposes of Part IVAAA of the Taxation Administration Act 1953 and are legally binding on the Commissioner.|
2. The car parking threshold set in this Determination has been ascertained by adjusting the previous year amount ($6.16) by a factor equivalent to the movement in the All Groups Consumer Price Index (2.0 per cent).
3. Section 39A of the Fringe Benefits Tax Assessment Act 1986 (FBTAA) sets out a number of conditions that must be met before car parking facilities provided by an employer to an employee will be subject to FBT.
4. Two of these conditions are, that a commercial car parking station located within 1 kilometre of the employer provided car park, and the lowest fee charged by the operator is more than the car parking threshold. Where there is more than one commercial parking station located within 1 kilometre, the condition is satisfied where the lowest fee charged by any of the operators is more than the threshold.
5. For example, if there are 3 commercial parking stations located within 1 kilometre of the employer provided car park and the lowest fee charged by each of the operators on 1 April 2004 is $5.50, $6.00 and $7.00, the condition is satisfied because the lowest fee charged by one of the operators on 1 April 2004 is more than the car parking threshold.
Date of effect
Commissioner of Taxation
19 May 2004
Not previously released in draft form.
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