Commonwealth Consolidated Acts

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Purpose of Part

             (1)  Division 2 of this Part describes the kind of benefits that can be assessable fringe benefits. Divisions 3 to 9 tell you how to work out the value of the assessable fringe benefits received by a person in a tax year. Division 10 deals with foreign currency conversions.

These provisions are necessary for the purposes of the carer allowance income test and the Seniors Health Card Income Test Calculator.

Note 1:       For assessable fringe benefit see section 10A.

Note 2:       A fringe benefit is one that is provided by an employer to an employee in respect of the employee's employment (see section 10A).

             (2)  Section 10A contains many of the definitions that are relevant to the provisions of this Part.

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