Statutory Rules 1990 No. 681
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Fringe Benefits Tax Regulations
I, THE
GOVERNOR-GENERAL of the Commonwealth of Australia, acting with the advice of
the Federal Executive Council, hereby make the following Regulations under the Fringe Benefits Tax Assessment Act 1986.
Dated
19 February 1990.
BILL HAYDEN
Governor-General
By
His Excellency’s Command,
PAUL KEATING
Treasurer
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Citation
1. These Regulations may be cited as
the Fringe Benefits Tax Regulations.
Interpretation
2. In these Regulations, “the Act” means the Fringe Benefits Tax Assessment Act 1986.
Variation of notional tax amount of
employers
3. (1) The notional tax amount of an
employer ascertained in accordance with subsection 110 (1) of the Act in
respect of the year of tax commencing on 1 April 1990 is varied in accordance
with the formula:
where:
NT is the notional tax amount of the
employer in respect of the year of tax commencing on 1 April 1990; and
AT is an amount equal to the fringe
benefits tax assessed in respect of the employer in respect of the year of tax
commencing on 1 April 1989.
(2) For the purposes of subsection 110 (2)
of the Act, the prescribed date is 1 April 1990.
NOTE
1. Notified in the Commonwealth of Australia Gazette