Compilation #9 | Effective 2018-06-19
FRBR Work URI: /akn/au/act/1986/40
This Act may be cited as the Fringe Benefits Tax Act 1986.
This Act shall come into operation on the day on which the Fringe Benefits Tax Assessment Act 1986 comes into operation.
The Fringe Benefits Tax Assessment Act 1986 is incorporated and shall be read as one with this Act.
This Act binds the Crown in right of each of the States, of the Australian Capital Territory and of the Northern Territory.
Tax is imposed in respect of the fringe benefits taxable amount of an employer of a year of tax.
The rate of tax in respect of the fringe benefits taxable amount of an employer of a year of tax is 47%.
This section applies to the temporary budget repair levy years for FBT.
Increase the rate of tax mentioned in section 6 by 2 percentage points.
(3) In this section, each of the following is a temporary budget repair levy year for FBT:
the year of tax starting on 1 April 2015;
the year of tax starting on 1 April 2016.
It is the intention of the Parliament that if, but for this section, section 5 of this Act would impose a tax on property of any kind belonging to a State within the meaning of section 114 of the Constitution, section 5 of this Act shall have effect as if it did not impose that tax.
Endnotes
Endnote 1—About the endnotes
The endnotes provide information about this compilation and the compiled law.
The following endnotes are included in every compilation:
Endnote 1—About the endnotes
Endnote 2—Abbreviation key
Endnote 3—Legislation history
Endnote 4—Amendment history
Abbreviation key—Endnote 2
The abbreviation key sets out abbreviations that may be used in the endnotes.
Legislation history and amendment history—Endnotes 3 and 4
Amending laws are annotated in the legislation history and amendment history.
The legislation history in endnote 3 provides information about each law that has amended (or will amend) the compiled law. The information includes commencement details for amending laws and details of any application, saving or transitional provisions that are not included in this compilation.
The amendment history in endnote 4 provides information about amendments at the provision (generally section or equivalent) level. It also includes information about any provision of the compiled law that has been repealed in accordance with a provision of the law.
Editorial changes
The Legislation Act 2003 authorises First Parliamentary Counsel to make editorial and presentational changes to a compiled law in preparing a compilation of the law for registration. The changes must not change the effect of the law. Editorial changes take effect from the compilation registration date.
If the compilation includes editorial changes, the endnotes include a brief outline of the changes in general terms. Full details of any changes can be obtained from the Office of Parliamentary Counsel.
Misdescribed amendments
A misdescribed amendment is an amendment that does not accurately describe the amendment to be made. If, despite the misdescription, the amendment can be given effect as intended, the amendment is incorporated into the compiled law and the abbreviation “(md)” added to the details of the amendment included in the amendment history.
If a misdescribed amendment cannot be given effect as intended, the abbreviation “(md not incorp)” is added to the details of the amendment included in the amendment history.
Endnote 2—Abbreviation key
Endnote 3—Legislation history
Endnote 4—Amendment history