Fringe Benefits Tax Assessment Act 1986


Division 14B - Reducible fringe benefits relating to remote area home repurchase schemes  


65CC(1)   [Reducible fringe benefit]  


(a) the recipient of a property fringe benefit in relation to an employer in relation to a year of tax is an employee of the employer;

(b) the recipients property is remote area residential property repurchase consideration;

(c) the taxable value of the fringe benefit in relation to the year of tax is nil; and

(d) the market value of the estate or interest purchased by the provider of the fringe benefit exceeds the amount paid by the provider by way of consideration for the purchase of the estate or interest;

the fringe benefit is a reducible fringe benefit.

65CC(2)   [Reduction amount]  

The reduction amount, in relation to the year of tax, of the reducible fringe benefit is 50% of the amount of the excess referred to in paragraph (1)(d).


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