Taxation Laws Amendment (FBT Cost of Compliance) Act 1995 (145 of 1995)

Schedule 2   CAR PARKING

Part 1   AMENDMENT OF THE FRINGE BENEFITS TAX ASSESSMENT ACT 1986

Division 1   Additional test to be satisfied in relation to a car parking benefit

3   After section 39A

Insert:

Anti-avoidance-fee on first business day not representative

"39AA. For the purposes of subparagraph 39A(a)(iii), any fee charged

on the first business day of an FBT year that is not representative is

to be disregarded.

When fees are not representative

"39AB. A fee charged by an operator of a commercial parking station

on a particular day is not representative if the fee is substantially

greater or less than the average of the lowest fee charged by the

operator in the ordinary course of business to members of the public

for all-day parking on each of the days in whichever of the following

periods is chosen by the employer:

(a) the 4 week period beginning on the day; or

(b) the 4 week period ending on the day.".