Commonwealth Consolidated Acts

SOCIAL SECURITY ACT 1991 - SECT 1157L

  (1)   This is how to work out the value of a car fringe benefit:

  (2)   The following Table is to be used in working out the value of a car fringe benefit:

	CAR FRINGE BENEFITS VALUE TABLE
	PART A--Car engine size up to 1600cc
		car age	Period of use (completed months)
	item	(years)	1	2	3	4	5	6	7	8	9	10	11	12
	1.	1	93.8	188	281	375	469	563	656	750	844	938	1031	1125
	2.	2	83.6	168	252	336	420	504	588	672	756	840	923.8	1008
	3.	3	74.2	148	223	297	371	445	520	594	668	742	816.4	890.6
	4.	4	64.5	129	193	258	322	387	451	516	580	645	709	773.4
	5.	5	54.7	109	164	219	273	328	383	438	492	547	601.6	656.3
	6.	6	44.9	89.8	135	180	225	270	314	359	404	449	494.1	539.1
	7.	7	35.2	70.3	105	141	176	211	246	281	316	352	386.7	421.9
	8.	8	25.4	50.8	76.2	102	127	152	178	203	229	254	279.3	304.7
	9.	9	15.6	31.3	46.9	62.5	78.1	93.8	109	125	141	156	171.9	187.5
	10.	10+	5.86	11.7	17.6	23.4	29.3	35.2	41	46.9	52.7	58.6	64.45	70.31
	PART B--Car engine size 1601cc to 2850cc
11.		1	229	458	688	917	1146	1375	1604	1833	2063	2292	2521	2750
12.		2	210	422	633	844	1055	1266	1477	1688	1898	2109	2320	2531
13.		3	193	385	578	771	964	1156	1349	1542	1734	1927	2120	2313
14.		4	174	349	523	698	872	1047	1221	1396	1570	1745	1919	2094
15.		5	156	313	469	625	781	938	1094	1250	1406	1563	1719	1875
16.		6	138	276	414	552	690	828	966	1104	1242	1380	1518	1656
17.		7	120	240	359	479	599	719	839	958	1078	1198	1318	1438
18.		8	102	203	305	406	508	609	711	813	914	1016	1117	1219
19.		9	83.3	167	250	333	417	500	583	667	750	833	916.7	1000
20.		10+	65.1	130	195	260	326	391	456	521	586	651	716.1	781.3
	PART   C--Car engine size more than 2850cc
	21.	1	354	708	1063	1417	1771	2125	2479	2833	3188	3542	3896	4250
	22.	2	327	656	984	1313	1641	1969	2297	2625	2953	3281	3609	3938
	23.	3	302	604	906	1208	1510	1813	2115	2417	2719	3021	3323	3625
	24.	4	276	552	828	1104	1380	1656	1932	2208	2484	2760	3036	3313
	25.	5	250	500	750	1000	1250	1500	1750	2000	2250	2500	2750	3000
	26.	6	224	448	672	896	1120	1344	1568	1792	2016	2240	2464	2688
	27.	7	198	396	594	792	990	1188	1385	1583	1781	1979	2177	2375
	28.	8	172	344	516	688	859	1031	1203	1375	1547	1719	1891	2063
	29.	9	146	292	438	583	729	875	1021	1167	1313	1458	1604	1750
	30.	10+	120	240	359	479	599	719	839	958	1078	1198	1318	1438

  (3)   If:

  (a)   the person is a member of a couple; and

  (b)   the person's partner receives a car fringe benefit in the appropriate tax year; and

  (c)   the person's and the partner's car fringe benefits relate to the same car;

the value of the car fringe benefit is to be halved.