Commonwealth Numbered Acts

FRINGE BENEFITS TAX ASSESSMENT ACT 1986 No. 39 of 1986 - SECT 49

49. Subject to this Part, the taxable value of an in-house period residual
fringe benefit in relation to a year of tax is-

   (a)  where, at or about the comparison time, identical overall benefits
        were provided by the provider-

        (i)    in the ordinary course of business to members of the public
               under an arm's length transaction or arm's length transactions;
               and

        (ii)   in similar circumstances and subject to identical terms and
               conditions (other than as to price) as those that applied in
               relation to the provision of the recipients overall benefit,
an amount equal to 75% of the lowest amount paid or payable by any such member
of the public in respect of the current identical benefit in relation to an
identical overall benefit so provided; or

   (b)  in any other case-an amount equal to 75% of the notional value of the
        recipients current benefit, reduced by the amount of the recipients
        contribution insofar as it relates to the recipients current benefit.