Fringe Benefits Tax Assessment Act 1986
(a) the recipient of a board fringe benefit in relation to an employer in relation to a year of tax is an employee of the employer;
(b) if the recipient had, at the time when the benefit was provided, incurred and paid unreimbursed expenditure (in this section called the ``gross expenditure'' ), in respect of the provision of the recipients meal, equal to the amount that, but for this subsection and Division 14 and the recipients contribution, would be the taxable value of the board fringe benefit in relation to the year of tax - a deduction (in this section called the ``gross deduction'' ) would, or would but for section 82A of the Income Tax Assessment Act 1936 , and Divisions 28 and 900 of the Income Tax Assessment Act 1997 , have been allowable to the recipient section 8-1 of the Income Tax Assessment Act 1997 in respect of the whole or a part of the gross expenditure; and
(c) the amount (in this section called the ``notional deduction'' ) calculated in accordance with the formula:
|GD - RD|
GD is the gross deduction; and
the amount that, but for this section and Division 14 , would be the taxable value of that fringe benefit in relation to the year of tax shall be reduced by the notional deduction.
Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited
CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.
The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.