Fringe Benefits Tax Assessment Act 1986

Submitted by Richard_Li on Fri, 02/17/2023 - 00:42

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Distinguished Terms in this instrument

Term(s)	Definition	Defined in Legislation	See Section(s)
meal entertainment fringe benefit	means a fringe benefit that is a meal entertainment benefit.	Fringe Benefits Tax Assessment Act 1986
meal entitlement day	, in relation to a meal provided in a year of tax, in respect of the employment of an employee, to a person (in this definition referred to as the recipient ) being the employee or an associate of the employee, means a day in respect of which:	Fringe Benefits Tax Assessment Act 1986	Fringe Benefits Tax Assessment Act 1986 - 2 Commencement Fringe Benefits Tax Assessment Act 1986 - 136 Interpretation
migrant language training	, in relation to a person, means a course attended by the person where:	Fringe Benefits Tax Assessment Act 1986	Fringe Benefits Tax Assessment Act 1986 - 136 Interpretation
natural person	does not include a natural person in the capacity of trustee.	Fringe Benefits Tax Assessment Act 1986	Fringe Benefits Tax Assessment Act 1986 - 136 Interpretation
non‐armâs length arrangement	means an arrangement other than an armâs length arrangement.	Fringe Benefits Tax Assessment Act 1986
non‐business accessory	, in relation to a car, means an accessory fitted to the car, whether at the factory where the car was assembled or at some other place, other than an accessory required to meet the special needs of any business operations in relation to which the car is used.	Fringe Benefits Tax Assessment Act 1986	Fringe Benefits Tax Assessment Act 1986 - 136 Interpretation
non‐deductible entertainment expenditure	means a loss or outgoing to the extent to which:	Fringe Benefits Tax Assessment Act 1986	Fringe Benefits Tax Assessment Act 1986 - 136 Interpretation
non‐deductible exempt entertainment expenditure	means non ‐ deductible entertainment expenditure to the extent to which it is not incurred in producing assessable income.	Fringe Benefits Tax Assessment Act 1986	Fringe Benefits Tax Assessment Act 1986 - 136 Interpretation
non‐profit company	means a company that is not carried on for the purposes of profit or gain to its individual members and is, by the terms of the companyâs constituent document, prohibited from making any distribution, whether in money, property or otherwise, to its members.	Fringe Benefits Tax Assessment Act 1986	Fringe Benefits Tax Assessment Act 1986 - 136 Interpretation
normal residence	, in relation to an employee, means:	Fringe Benefits Tax Assessment Act 1986	Fringe Benefits Tax Assessment Act 1986 - 136 Interpretation
notional amount of interest	, in relation to a loan in relation to a year of tax, means the amount of interest that would have accrued on the loan in respect of the year of tax if the interest were calculated on the daily balance of the loan at:	Fringe Benefits Tax Assessment Act 1986	Fringe Benefits Tax Assessment Act 1986 - 136 Interpretation
notional tax amount	has the meaning given by section 110.	Fringe Benefits Tax Assessment Act 1986	Fringe Benefits Tax Assessment Act 1986 - 110 Notional tax amount Fringe Benefits Tax Assessment Act 1986 - 136 Interpretation
notional taxable value	, in relation to a benefit provided in, or in respect of, a year of tax in respect of the employment of an employee of an employer, means the amount that, if it were assumed that:	Fringe Benefits Tax Assessment Act 1986	Fringe Benefits Tax Assessment Act 1986 - 136 Interpretation
notional value	, in relation to the provision of property or another benefit to a person, means the amount that the person could reasonably be expected to have been required to pay to obtain the property or other benefit from the provider under an armâs length transaction.	Fringe Benefits Tax Assessment Act 1986	Fringe Benefits Tax Assessment Act 1986 - 136 Interpretation
obligation	, in relation to the payment or repayment of an amount, includes an obligation that is not enforceable by legal proceedings.	Fringe Benefits Tax Assessment Act 1986	Fringe Benefits Tax Assessment Act 1986 - 136 Interpretation
odometer records	, in relation to a car, in relation to a period, means a document in which particulars of:	Fringe Benefits Tax Assessment Act 1986	Fringe Benefits Tax Assessment Act 1986 - 162K Replacement carsâcar fringe benefits Fringe Benefits Tax Assessment Act 1986 - 136 Interpretation
once‐only deduction	, in relation to expenditure, means a deduction in a year of income in respect of a percentage of the expenditure where no deduction is allowable in respect of a percentage of the expenditure in any other year of income.	Fringe Benefits Tax Assessment Act 1986	Fringe Benefits Tax Assessment Act 1986 - 136 Interpretation
original assessment date	means:	Fringe Benefits Tax Assessment Act 1986	Fringe Benefits Tax Assessment Act 1986 - 136 Interpretation
outsider	, in relation to the employment of an employee of an employer, means a person not being:	Fringe Benefits Tax Assessment Act 1986	Fringe Benefits Tax Assessment Act 1986 - 136 Interpretation
period residual fringe benefit	means a residual fringe benefit that is provided during a period.	Fringe Benefits Tax Assessment Act 1986	Fringe Benefits Tax Assessment Act 1986 - 136 Interpretation