Taxation Laws Amendment Act (No. 1) 1999 (16 of 1999)

Schedule 12  

Part 1   Fringe Benefits Tax Assessment Act 1986

3   Section 136AA (at the end of the definition of aggregate fringe benefits amount )

Add:

Note: In certain cases, the employer can instead use the aggregate fringe benefits amount in relation to a previous year of tax: see Part XIA (Record keeping exemption).