FRINGE BENEFITS TAX ASSESSMENT ACT 1986
Any of the following benefits provided by an employer to an employee of the employer in respect of the employee's employment is an exempt benefit:
(a) an expense payment benefit where the recipients expenditure is in respect of an eligible work related item;
(b) a property benefit where the recipients property is an eligible work related item;
(c) a residual benefit where the recipients benefit consists of the making available of an eligible work related item. 58X(2)
Subject to subsection (3) , each of the following is an eligible work related item if it is primarily for use in the employee's employment:
(a) a portable electronic device;
(b) an item of computer software;
(c) an item of protective clothing;
(d) a briefcase;
(e) a tool of trade.
An item (the later item ) listed in subsection (2) is not an eligible work related item if, earlier in the FBT year, an expense payment benefit or a property benefit of the employee has arisen in relation to another item that has substantially identical functions to the later item.
However, subsection (3) does not apply if:
(a) the later item is a replacement for the other item; or
(b) the later item is a portable electronic device, and the employer is a small business entity for:
(i) the year of income starting most recently after the start of the FBT year; or
(ii) the year of income ending most recently after the start of the FBT year.
For paragraph (a), the later item would be a replacement for the other item if the other item were lost or destroyed, or needed replacing because of developments in technology.
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.