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.
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