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Edited version of private advice
Authorisation Number: 1052081314009
Date of advice: 4 April 2023
Ruling
Subject: FBT - capping threshold
Ruling
The taxpayer sought a ruling in regard to whether a benefit is an exempt benefit under section 57 of the Fringe Benefits Tax Assessment Act 1986 (FBTAA).
The Commissioner has ruled on questions relating to employer's fringe benefits taxable amount and rebate for certain not-for-profit employers.
Question
On the basis that the answer to Question 1 is no, is the organisation entitled to apply the $30,000 reduction to the taxable FBT value for each eligible employee pursuant to Step 3 of the Method Statement contained in subsection 5B(1E) of the FBTAA?
Answer
Yes
This ruling applies for the following periods:
31 March 20XX
31 March 20XX
31 March 20XX
31 March 20XX
The scheme commences on:
1 April 20XX
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