Fringe Benefits Tax Amendment Regulations 2007 (No. 1) (Cth)
Fringe Benefits Tax Amendment Regulations 2007 (No. 1)1
Select Legislative Instrument 2007 No. 43
I, PHILIP MICHAEL JEFFERY, Governor‑General of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, make the following Regulations under the Fringe Benefits Tax Assessment Act 1986.
Dated 22 March 2007
P. M. JEFFERY
Governor‑General
By His Excellency’s Command
PETER CRAIG DUTTON
Minister for Revenue and Assistant Treasurer
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Name of Regulations
These Regulations are the Fringe Benefits Tax Amendment Regulations 2007 (No. 1).
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Commencement
These Regulations commence on the day after they are registered.
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Amendment of Fringe Benefits Tax Regulations 1992
Schedule 1 amends the Fringe Benefits Tax Regulations 1992.
Schedule 1 Amendment
(regulation 3)
[1] After regulation 3E
insert
3FExcluded fringe benefit — pooled or shared cars (Act s 5E)
(1)For paragraph 5E (3) (i) of the Act, a benefit is an excluded fringe benefit if, during a year of tax:
(a)the benefit is a car benefit, as described in subsection 7 (1) of the Act, that is:
(i)a fringe benefit within the meaning of subsection 136 (1) of the Act; or
(ii)a benefit that:
(A)is an exempt benefit; and
(B)would have been a fringe benefit except that the benefit is an exempt benefit; and
(b)the car benefit relates to a car the provision of which gives rise to the benefit described in paragraph (a) for more than 1 employee.
Example
The employer of 3 employees makes 1 car available to the employees, for private use, at different times during the year of tax.
(2)The fringe benefit is an excluded fringe benefit in relation to each of those employees.
(3)The fringe benefit is an excluded fringe benefit in relation to:
(a)the year of tax starting on 1 April 2007; and
(b)each later year of tax.
Note
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All legislative instruments and compilations are registered on the Federal Register of Legislative Instruments kept under the Legislative Instruments Act 2003. See
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