Taxable value reduced by entertainment percentage
(a) the recipient of an expense payment fringe benefit in relation to an employer in relation to a year of tax is an employee of the employer; and
(b) a percentage of the recipients expenditure is in respect of the provision of entertainment other than to the recipient or an associate of the recipient;
the amount that, apart from this subsection, would be the taxable value of the expense payment fringe benefit in relation to the year of tax is reduced by that percentage.
(2) If the taxable value of the expense payment fringe benefit
has been reduced under Division 5 by reason of a particular matter or
thing, the taxable value of the fringe benefit is not reduced under this
section in respect of the same matter or thing.