Commonwealth Numbered Acts

INCOME TAX LAWS AMENDMENT ACT 1980 No. 19 of 1980 - SECT 3

3. (1) After section 26 of the Principal Act the following section is
inserted:



"26AAAA. In determining, for the purposes of the application of paragraph (e)
of section 26, the value to a taxpayer of a benefit granted to the taxpayer in
respect of or in relation to his employment, being a benefit by way of the
grant of a lease or licence in respect of residential accommodation that is
occupied by the taxpayer or by the taxpayer and his family, the Commissioner
shall have regard to all relevant matters and, in particular, where-

   (a)  the residential accommodation is situated in a place that is remote
        from a major centre of population;

   (b)  it is customary for employers in the industry in which the tax- payer
        is employed to provide residential accommodation for their employees
        without charge or for a rent or other consideration that is less than
        the market value of the right to occupy the accommodation concerned;

   (c)  the taxpayer has no reasonable alternative other than to occupy the
        residential accommodation by reason of the unavailability on
        reasonable terms and conditions of suitable alternative residential
        accommodation (other than accommodation provided by or on behalf of
        his employer) within a reasonable distance from his place of
        employment;

   (d)  the residential accommodation is of a higher standard than could
        reasonably be expected to be provided for the taxpayer or is of a
        larger size than is necessary to accommodate the taxpayer or the
        taxpayer and his family; or

   (e)  any onerous conditions are attached to the lease or licence, the
        Commissioner shall take that matter into account and make such
        reduction in the amount that would otherwise be the value to the
        taxpayer of that benefit as is appropriate in the circumstances.".

(2) The section inserted in the Principal Act by sub-section (1) applies to
assessments in respect of income of the year of income that com- menced on 1
July 1977 and in respect of income of all subsequent years of income.

(3) Nothing in section 170 of the Income Tax Assessment Act 1936 prevents the
amendment of an assessment made before the commence- ment of this Act if the
amendment is for the purpose of giving effect to the section inserted in the
Principal Act by sub-section (1).