Tax Laws Amendment (Budget Measures) Act 2008 (59 of 2008)

Schedule 1   Fringe benefits tax and employee share schemes

Part 1   Fringe benefits tax and related measures

Fringe Benefits Tax Assessment Act 1986

3   Application

(1) The amendment made by item 2 applies to food and drink provided after 7.30 pm, by legal time in the Australian Capital Territory, on 13 May 2008.

(2) However, that amendment does not apply to an agreement made by an employee before 7.30 pm, by legal time in the Australian Capital Territory, on 13 May 2008 to the extent that:

(a) a reduction in salary or wages has already occurred by that time; and

(b) the food or drink is provided before 1 April 2009.