FRINGE BENEFITS TAX ASSESSMENT ACT 1986
The substantiation rules do not apply in relation to a benefit if the nature and quality of evidence that a person has satisfies the Commissioner that the taxable value of the benefit is not greater than the amount specified in the taxpayer ' s return for the FBT year as the taxable value of that benefit.
(Omitted by No 145 of 1995) 123B(3) [When Commissioner may exercise discretion]
(a) in the course of reviewing on the Commissioner ' s own motion the affairs of the employer; or
(b) in considering an objection against the assessment of the employer of the year of tax; or
(c) in considering whether to make an amendment of the assessment of the employer of the year of tax in response to a request made by the employer before the commencement of this section. 123B(4) [Declarations]
This section does not apply to a declaration made for the purposes of this Act.123B(5) [Application for extension of time]
(a) an employer makes an application under subsection 82(1) or (2), as in force immediately before the commencement of section 113 of the Taxation Laws Amendment Act (No. 3) 1991 ; and
(b) the period mentioned in the subsection concerned ended before the commencement of this section;
the following provisions have effect:
(c) the Commissioner, the Tribunal or the Federal Court of Australia, as the case requires, when making a decision on the application, must disregard subsection (1) of this section;
(d) if the Commissioner, the Tribunal or the Federal Court of Australia, as the case requires, grants the application:
(i) the employer ' s objection has no effect to the extent that it relates to grounds based on subsection (1) of this section; and
123B(6) [Application of section]
(ii) the Tribunal or the Federal Court of Australia, when making a decision under:
(A) paragraph 86A(a) of this Act, as in force immediately before the commencement of section 113 of the Taxation Laws Amendment Act (No. 3) 1991 ; ormust disregard subsection (1) of this section.
(B) paragraph 14ZZK(a) or 14ZZO(a) of the Taxation Administration Act 1953 , as the case requires;
This section applies to a benefit provided before, at or after the commencement of this section.
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