A New Tax System (Tax Administration) Act (No. 2) 2000 (91 of 2000)

Schedule 2   Consequential and miscellaneous amendments

Part 4   FBT amendments commencing on 1 April 2001

Fringe Benefits Tax Assessment Act 1986

148   Section 70

Repeal the section, substitute:

70 Keeping records of indirect tax transactions

A return under section 68 or 69 must:

(a) be in the approved form; and

(b) specify:

(i) the fringe benefits taxable amount of the employer of the year of tax concerned; and

(ii) the amount of tax payable on that amount.