FRINGE BENEFITS TAX ASSESSMENT ACT 1986

PART III - FRINGE BENEFITS  

Division 7 - Living-away-from-home allowance fringe benefits  

Subdivision B - Taxable value of living-away-from-home allowance fringe benefits  

SECTION 31   TAXABLE VALUE - EMPLOYEE MAINTAINS A HOME IN AUSTRALIA  

31(1)  
This section applies to a living-away-from-home allowance fringe benefit covered by subsection 30(1) in relation to a year of tax to the extent that the employee satisfies all of the following for the fringe benefit and the period to which it relates:


(a) section 31C (about maintaining an Australian home);


(b) section 31D (about the first 12 months);


(c) section 31F (about declarations).

31(2)  
Subject to this Part, the taxable value of the fringe benefit in relation to the year of tax is the amount of the fringe benefit reduced by:


(a) any exempt accommodation component; and


(b) any exempt food component.

31(3)  
Paragraph (2)(b) does not apply to the extent that the fringe benefit relates to a period during which the employee resumes living at his or her normal residence.

31(4)  
Neither paragraph (2)(a) nor (b) applies to the extent that the period to which the fringe benefit relates happens while the 12-month period referred to in subsection 31D(1) is paused.

Note:

The employer may pause that 12-month period (see paragraph 31D(2)(a) ).




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