Tax and Superannuation Laws Amendment (2013 Measures No. 1) Act 2013 (88 of 2013)

Schedule 2   Airline transport fringe benefits

Fringe Benefits Tax Assessment Act 1986

15   Subsection 136(1) (definition of airline transport fringe benefit )

Repeal the definition, substitute:

airline transport fringe benefit means an in-house property fringe benefit, or in-house residual fringe benefit, to the extent that the benefit:

(a) is the provision of transport in a passenger aircraft operated by a carrier and any incidental services on board the aircraft; and

(b) is provided subject to the stand-by restrictions that customarily apply in relation to the provision of airline transport to employees in the airline industry.