FRINGE BENEFITS TAX ASSESSMENT ACT 1986
Subject to this Part, the taxable value of an in-house period residual fringe benefit in relation to a year of tax is:
(aa) if the benefit was provided to the recipient under a salary packaging arrangement - an amount equal to the notional value of the benefit at the comparison time; or
(ab) if paragraph (aa) does not apply and the benefit is an airline transport fringe benefit - an amount equal to 75 % of the stand-by airline travel value of the benefit at the comparison time; or
(a) if neither paragraph (aa) nor (ab) applies and, at or about the comparison time, identical overall benefits were provided by the provider:
(i) in the ordinary course of business to members of the public under an arm ' s length transaction or arm ' s length transactions; and
an amount equal to 75% of the lowest amount paid or payable by any such member of the public in respect of the current identical benefit in relation to an identical overall benefit so provided; or
(ii) in similar circumstances and subject to identical terms and conditions (other than as to price) as those that applied in relation to the provision of the recipients overall benefit;
(b) in any other case - an amount equal to 75% of the notional value of the recipients current benefit;
reduced by the amount of the recipients contribution insofar as it relates to the recipients current benefit.
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