Fringe Benefits Tax Assessment Act 1986


Division 12 - Residual fringe benefits  

Subdivision A - Residual benefits  


47A(1)   [Exempt benefit]  

A residual fringe benefit that is covered by a no-private-use declaration is an exempt benefit.

47A(2)   [No-private-use declaration]  

An employer may make a no-private-use declaration that covers all the employer's residual fringe benefits for an FBT year that are covered by a consistently enforced policy in relation to the use of the property that is the subject of the benefit that would result in the taxable value of the benefit being nil.

47A(3)   [Form of declaration]  

The declaration must be in a form approved in writing by the Commissioner and be made by the declaration date.


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