FRINGE BENEFITS TAX ASSESSMENT ACT 1986

PART X - STATUTORY EVIDENTIARY DOCUMENTS  

SECTION 123B   SUBSTANTIATION REQUIREMENTS NOT TO APPLY IN SPECIAL CIRCUMSTANCES  

123B(1)   [Commissioner ' s discretion]  

The substantiation rules do not apply in relation to a benefit if the nature and quality of evidence that a person has satisfies the Commissioner that the taxable value of the benefit is not greater than the amount specified in the taxpayer ' s return for the FBT year as the taxable value of that benefit.

123B(2)  


(Omitted by No 145 of 1995)

123B(3)   [When Commissioner may exercise discretion]  

The Commissioner may only make a decision under subsection (1):


(a) in the course of reviewing on the Commissioner ' s own motion the affairs of the employer; or


(b) in considering an objection against the assessment of the employer of the year of tax; or


(c) in considering whether to make an amendment of the assessment of the employer of the year of tax in response to a request made by the employer before the commencement of this section.

123B(4)   [Declarations]  

This section does not apply to a declaration made for the purposes of this Act.

123B(5)   [Application for extension of time]  

If:


(a) an employer makes an application under subsection 82(1) or (2), as in force immediately before the commencement of section 113 of the Taxation Laws Amendment Act (No. 3) 1991 ; and


(b) the period mentioned in the subsection concerned ended before the commencement of this section;

the following provisions have effect:


(c) the Commissioner, the Tribunal or the Federal Court of Australia, as the case requires, when making a decision on the application, must disregard subsection (1) of this section;


(d) if the Commissioner, the Tribunal or the Federal Court of Australia, as the case requires, grants the application:


(i) the employer ' s objection has no effect to the extent that it relates to grounds based on subsection (1) of this section; and

(ii) the Tribunal or the Federal Court of Australia, when making a decision under:

(A) paragraph 86A(a) of this Act, as in force immediately before the commencement of section 113 of the Taxation Laws Amendment Act (No. 3) 1991 ; or

(B) paragraph 14ZZK(a) or 14ZZO(a) of the Taxation Administration Act 1953 , as the case requires;
must disregard subsection (1) of this section.

123B(6)   [Application of section]  

This section applies to a benefit provided before, at or after the commencement of this section.




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