Fringe Benefits Tax Assessment Act 1986
The following is a simplified outline of this Part:
An employee ' s reportable fringe benefits total for a year of income is the sum of each of the employee ' s reportable fringe benefits amounts for the year of income (see section 135N ). (The total is taken into account under other Acts; for example in working out some income tax rebates, Medicare levy surcharge and superannuation surcharge and whether the employee must make a repayment of a debt under the Higher Education Support Act 2003 .)
An employee ' s reportable fringe benefits amount from an employer is generally the grossed-up value of the employee ' s individual fringe benefits amount from that employer (see section 135P ).
Special rules apply for working out the employee ' s reportable fringe benefits amount in respect of the employee ' s employment if the benefits provided in respect of the employment include exempt benefits under section 57A or 58 (about employment with public benevolent institutions, certain hospitals, public ambulance services, health promotion charities and bodies providing care for sick, elderly or disadvantaged persons) (see section 135Q ).