Taxation Determination

TD 2008/5

Fringe benefits tax: for the purposes of section 28 of the Fringe Benefits Tax Assessment Act 1986 what are the indexation factors for valuing non-remote housing for the fringe benefits tax year commencing on 1 April 2008?

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This publication (excluding appendixes) is a public ruling for the purposes of the Taxation Administration Act 1953. A public ruling is an expression of the Commissioner's opinion about the way in which a relevant provision applies, or would apply, to entities generally or to a class of entities in relation to a particular scheme or a class of schemes. If you rely on this ruling, we must apply the law to you in the way set out in the ruling (unless we are satisfied that the ruling is incorrect and disadvantages you, in which case we may apply the law in a way that is more favourable for you - provided we are not prevented from doing so by a time limit imposed by the law). You will be protected from having to pay any underpaid tax, penalty or interest in respect of the matters covered by this ruling if it turns out that it does not correctly state how the relevant provision applies to you.

Ruling

Non-remote housing

1. The indexation factors for the purpose of valuing non-remote housing for the fringe benefits tax (FBT) year commencing on 1 April 2008 are:

New South Wales 1.045
Victoria 1.044
Queensland 1.073
South Australia 1.041
Western Australia 1.097
Tasmania 1.054
Australian Capital Territory 1.059
Northern Territory 1.072

Date of effect

2. This Determination applies to the FBT year commencing on 1 April 2008.

Commissioner of Taxation
26 March 2008

Appendix 1 - Explanation

Exclamation 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.

Explanation

3. Section 28 of the Fringe Benefits Tax Assessment Act 1986 (FBTAA) establishes the indexation factors which are applied in valuing non-remote housing under section 26 of the FBTAA. These factors are based on movements in the rent sub-group of the Consumer Price Index.

Not previously issued as a draft

References

ATO references:
NO 2007/3864

Previous Rulings/Determinations:
TD 93/40
TD 94/21
TD 95/21
TD 96/27
TD 97/10
TD 98/9
TD 1999/4
TD 2000/30
TD 2001/7
TD 2002/7
TD 2003/4
TD 2004/10
TD 2005/10
TD 2006/14
TD 2007/6

ISSN: 1038-8982

Subject References:
fringe benefits tax
housing fringe benefits
housing indexation figures
non-remote housing

Legislative References:
FBTAA 1986 26
FBTAA 1986 28
TAA 1953

TD 2008/5 history
  Date: Version: Change:
You are here 26 March 2008 Original ruling  
  25 May 2016 Withdrawn