Class Ruling

CR 2007/15A2 - Addendum

Fringe benefits tax: employer clients of Bendigo and Adelaide Bank Limited who are subject to the provisions of section 57A of the Fringe Benefits Tax Assessment Act 1986 that make use of a B Packaged Mastercard debit card account facility

Addendum

This Addendum is a public ruling for the purposes of the Taxation Administration Act 1953. It amends Class Ruling CR 2007/15 to change the name of the company named in the class ruling from Community Sector Banking Pty Ltd to Bendigo and Adelaide Bank Limited, in view of Bendigo and Adelaide Bank Limited acquiring Community Sector Banking Pty Ltd from 3 March 2020.

CR 2007/15 is amended as follows:

1. Title

Omit the title; substitute:

Fringe benefits tax: employer clients of Bendigo and Adelaide Bank Limited who are subject to the provisions of section 57A of the Fringe Benefits Tax Assessment Act 1986 that make use of a B-Packaged Mastercard debit card account facility

2. Table of Contents

Omit the table of contents; substitute:

Contents Para
LEGALLY BINDING SECTION:
What this Ruling is about 1
Date of effect 8
Scheme 11A
Ruling 19A
NOT LEGALLY BINDING SECTION:
Appendix 1:
Explanation 25
Appendix 2:
Detailed contents list 44

3. Paragraph 3

Omit the paragraph; substitute:

3. The class of entities to which this Ruling applies are employers subject to the provisions of section 57A who enter into an agreement with Bendigo and Adelaide Bank Limited (BEN) to make use of a B-Packaged Mastercard debit card account facility.

4. Paragraph 12

(a) After the heading Scheme , insert:

Community Sector Banking Pty Ltd
11A. Community Sector Banking Pty Ltd ABN 88 098 858 765 (AFSL authorised representative No. 265317 and Australian Credit authorised representative No. 379667) (CSB) is a franchisee of BEN and is a wholly-owned subsidiary of Community Sector Enterprises Pty Ltd ABN 95 098 858 354 (CSE). CSE is a 50/50 joint venture between BEN and Community 21 Limited ABN 79 097 612 416 (C21).
11B. The banking product that forms the basis for the scheme that is the subject of this Class Ruling is and always has been a banking product of BEN.
11C. CSB distributed a suite of BEN banking products to customers in the not-for-profit sector under the terms of a franchise agreement. In early 2020, BEN acquired all of the shares held by C21 in CSE via a share sale and purchase agreement. Despite the change in form and structure of the arrangement, the substance of the product suite remains unchanged.
 
Information provided

(b) At the end of the first dot point, omit 'and'.

(c) At the end of the second dot point, omit the 'fullstop'; substitute '; and'.

(d) After the second dot point, insert:

further information received on 18 August 2021, including:

-
B-Packaged fact sheet;
-
B-Packaged and B-Entertained organisation application form;
-
B-Packaged and B-Entertained employee application form;
-
Bendigo and Adelaide Bank Limited fees and charges document dated 5 February 2021; and
-
Bendigo and Adelaide Bank Limited accounts and facilities terms and conditions dated 2 December 2020.

Note: any materials previously branded Community Sector Banking Pty Ltd were rebranded to Bendigo and Adelaide Bank Limited in 2020.

5. Paragraph 13

Omit the paragraph; substitute:

13. An employer applies to BEN for a B-Packaged Mastercard debit card account (the account). The account will be opened under the employer's customer record.

6. Paragraph 14

Omit the paragraph; substitute:

14. Employees of the employer may apply to BEN for a B-Packaged Mastercard debit card (the card). Each employee will be an additional cardholder to the account. Spouse and partner cards can be issued where required.

7. Paragraph 16

Omit the word 'Visa'; substitute 'Mastercard'.

8. Paragraph 27

In the first dot point, omit the words 'the financial institution'; substitute 'BEN'.

9. Paragraph 29

Omit the words 'the financial institution'; substitute 'BEN'.

10. Paragraph 33

Omit the words 'The financial institution'; substitute 'BEN'.

11. Paragraph 41

In the second dot point, omit the word 'because'.

12. Paragraph 44

In the detailed contents list:

   omit 'Scheme 12'; substitute 'Scheme 11A'
   insert new entries:
Community Sector Banking Pty Ltd 11A
Information provided 12

This Addendum applies on and from 3 March 2020.

Commissioner of Taxation
6 October 2021

© AUSTRALIAN TAXATION OFFICE FOR THE COMMONWEALTH OF AUSTRALIA

You are free to copy, adapt, modify, transmit and distribute this material as you wish (but not in any way that suggests the ATO or the Commonwealth endorses you or any of your services or products).

References

ATO references:
NO 1-KZ5Y75T

ISSN: 2205-5517

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