FRINGE BENEFITS TAX ASSESSMENT ACT 1986

PART III - FRINGE BENEFITS  

Division 10A - Car parking fringe benefits  

Subdivision D - 12 week record keeping method  

SECTION 39GC   39GC   MEANING OF TOTAL VALUE OF CAR PARKING BENEFITS (REGISTER)  


The total value of car parking benefits (register) , in relation to the FBT year, means the amount that would be the total taxable value of car parking fringe benefits for employees covered by the election for the 12 week period for which a register is kept, assuming that:


(a) the register had been kept in that FBT year; and


(b) the value of the benefits were calculated in accordance with the information in the register; and


(c) the value of the benefits were calculated using whichever of the following methods that the taxpayer chooses:


(i) the commercial parking station method;

(ii) the market value method;

(iii) the average cost method.



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