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Edited version of private advice
Authorisation Number: 1052125552507
Date of advice: 5 June 2023
Ruling
Subject: FBT - capping threshold
To protect the privacy and commercial in-confidence components of this private binding ruling, the following summary is provided.
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 question relating to the employer's fringe benefits taxable amount and rebate for certain not-for-profit employers.
Question
If XXX is a registered PBI endorsed under section 123C of the FBTAA by the Commissioner of Taxation, should it be allowed to apply the $30,000 deduction in determining the individual grossed-up non-exempt amount for each of its employees as per Step 3 of the Method statement in subsection 5B(1E) of the FBTAA?
Answer
Yes.
This ruling applies for the following periods:
FBT year ended 31 March 20xx
FBT year ended 31 March 20xx
FBT year ended 31 March 20xx
FBT year ended 31 March 20xx
The scheme commences on:
1 April 20xx
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