Fringe benefits tax: for the purposes of section 135C of the Fringe Benefits Tax Assessment Act 1986, what is the exemption threshold for the fringe benefits tax year commencing on 1 April 2013?
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1. The exemption threshold for the fringe benefits tax (FBT) year commencing 1 April 2013 is $7,779. This replaces the amount of $7,642 that applied in the previous year commencing 1 April 2012.
Date of effect
2. This Determination applies to the FBT year commencing 1 April 2013.
Commissioner of Taxation
27 March 2013
Appendix 1 - Explanation
This Appendix is provided as information to help you understand how the Commissioner's view has been reached. It does not form part of the binding public ruling.
3. Two conditions must be satisfied for the record keeping exemption arrangements to apply to an employer for an FBT year:
- a base year needs to be established; and
- during the FBT year immediately before the current year the employer has not received a notice from the Commissioner requiring the employer to resume record keeping.
4. Section 135C of the Fringe Benefits Tax Assessment Act 1986 sets out a number of conditions that must be met before an FBT year is a base year of an employer. One of the conditions is that the employer's aggregate fringe benefits amount in the base year does not exceed the exemption threshold.
5. The exemption threshold set in this Determination has been ascertained by applying an indexation factor of 1.018 (reflecting the movement in the All Groups Consumer Price Index for the eight capital cities for the year ending 31 December 2012) to the previous year's threshold.
Not previously issued as a draft
fringe benefits tax
FBT record keeping
FBTAA 1986 135C