Fringe Benefits Tax Assessment Act 1986
Subject to this Part, the taxable value of an external non-period residual fringe benefit in relation to an employer in relation to a year of tax is: (a) where the provider was the employer or an associate of the employer and the benefit was purchased by the provider under an arm ' s length transaction - the amount paid or payable by the provider for the benefit; (b) where the provider was not the employer or an associate of the employer and the employer, or an associate of the employer, incurred expenditure to the provider under an arm ' s length transaction in respect of the provision of the benefit - the amount of that expenditure; or (c) in any other case - the notional value of the benefit at the comparison time;
reduced by the amount of the recipients contribution.
[ CCH Note: Modification Declaration FRLI No F2021L00261 ( Bankruptcy Regulations 2021 : FRLI No F2021L00261, registered on 19 March 2021 and effective from 1 April 2021.)
Section 50 of the Act is modified by substituting the section:
SECTION 50 VALUE OF RESIDUAL FRINGE BENEFITS
]
50
Subject to this Part, the value of a residual fringe benefit in relation to a contribution assessment period is the cost to the provider of providing the benefit, reduced by the amount of the recipient
'
s contribution.
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