Commonwealth Consolidated Acts

FRINGE BENEFITS TAX ASSESSMENT ACT 1986 - SECT 58E

    Where:

  (a)   either of the following benefits (in this section called a household goods leasing benefit ) is provided in, or in respect of, a year of tax in respect of the employment of an employee:

  (i)   an expense payment benefit where the recipients expenditure is in respect of a lease or licence in respect of goods;

  (ii)   a residual benefit where the recipients benefit consists of the subsistence of a lease or licence in respect of goods;

  (b)   the goods are primarily for domestic use by, and in connection with accommodation for, family members;

  (c)   either of the following benefits is provided in, or in respect of, the year of tax to the employee in respect of that employment:

  (i)   an expense payment benefit where the recipients expenditure is in respect of a lease or licence in respect of that accommodation;

  (ii)   a residual benefit where the recipients benefit is constituted by the subsistence of a lease or licence in respect of that accommodation; and

  (d)   by virtue of section   21 or subsection   47(5), the benefit referred to in paragraph   (c) is an exempt benefit in relation to the year of tax;

the household goods leasing benefit is an exempt benefit in relation to the year of tax.