FRINGE BENEFITS TAX ASSESSMENT ACT 1986

PART III - FRINGE BENEFITS  

Division 14 - Reduction of taxable value of miscellaneous fringe benefits  

SECTION 61B   61B   REDUCTION OF TAXABLE VALUE OF CERTAIN EXPENSE PAYMENT FRINGE BENEFITS IN RESPECT OF RELOCATION TRANSPORT  


Where:


(a) an expense payment fringe benefit in respect of relocation transport is provided in a year of tax to an employee of an employer, or to an associate of the employee, in respect of the employment of the employee;


(b) the fringe benefit is constituted by the reimbursement of the recipient, in whole or in part, in respect of an amount of a Division 28 car expense incurred by the recipient in relation to a car owned by, or leased to, the recipient, being a reimbursement calculated by reference to the distance travelled by the car; and


(c) the recipient gives to the employer, before the declaration date, a declaration, in a form approved by the Commissioner, purporting to set out:


(i) particulars of the car; and

(ii) the number of whole kilometres travelled by the car in providing transport by virtue of which the benefit is in respect of relocation transport;

the amount that, but for this section, would be the taxable value of the fringe benefit in relation to the year of tax shall be reduced by so much of the amount of the reimbursement as does not exceed the reimbursement that would have been paid if it had been calculated on the basis of the sum of the following rates:


(d) the basic car rate;


(e) where 2 or more family members travelled in the car when it provided the transport by virtue of which the benefit is in respect of relocation transport - the supplementary car rate.




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