Commonwealth Numbered Regulations - Explanatory Statements

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FRINGE BENEFITS TAX REGULATIONS (AMENDMENT) 1993 NO. 148

STATUTORY RULES 1993 No. 148

ISSUED BY THE AUTHORITY OF THE ASSISTANT TREASURE

Fringe Benefits Tar Assessment Act 1986

Fringe Benefits Tax Regulations (Amendment)

Income Tax Assessment Act 1936

Income Tax Regulations (Amendment)

These regulations amend the Fringe Benefits Tax Regulations by inserting new Regulations 3A and 13A, and amend the Income Tax Regulations by inserting new Regulation 12.

Fringe Benefits Tax Regulation 3A provides that a car parking benefit provided to an employee will not be subject to fringe benefits tax where:

•       the employee is entitled under a law of a State or Territory to park in a car parking space which is reserved for parking by disabled persons; and

•       the employee is either the driver of, or a passenger in, a vehicle displaying identification which authorises it to park in a public car parking space which is reserved for parking by disabled persons.

Fringe Benefits Tax Regulation 13A provides that an expense payment fringe benefit will not be subject to FBT where:

•       the expense payment relates to car parking provided to an employee who is entitled under a law of a State or Territory to park in a car parking space which is reserved for parking by disabled persons; and

•       the employee is either the driver of, or a passenger in, a vehicle displaying identification which authorises it to park in a car parking space which is reserved for parking by disabled persons.

Income Tax Regulation 12 provides that, notwithstanding the general effect of section 51AGA of the ITAA, a deduction relating to expenditure on cat- parking will be available to a person who is entitled under a law of a State or Territory to park in a public car parking space which is reserved for parking by disabled persons. The exemption from the effect of section 51AGA will only apply where the expenditure relates to a vehicle which displays identification authorising it to park in a car parking space reserved for parking by disabled persons.