Commonwealth Consolidated Acts

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FRINGE BENEFITS TAX ASSESSMENT ACT 1986 - SECT 135L

Employer not in business throughout current year

  (1)   This section applies if the employer does not carry on business operations throughout the current year.

Pro - rata reduction of base year aggregate fringe benefits amount

  (2)   For the purposes of sections   135G and 135K, the employer's aggregate fringe benefits amount for the employer's most recent base year is replaced by the amount worked out using the following formula:

    Start formula Aggregate fringe benefits amount times start fraction Number of days in the current year during which the employer carried on business operations over Number of days in the current year end fraction end formula

 


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