Private ruling: FBT exemption
Date of advice: 17 May 2023
Published: 3 July 2023

Ruling: Q1: Are the overpayments of salary and wages, interim cash payments and corporate loans made before XX August 20XX considered loan fringe benefits as defined within subsection 136(1) of the Fringe Benefits Tax Assessment Act 1986 (FBTAA)? | A1: Yes. | Q2: If yes, do the amendments to the Act, barring the employer from recovering the loans, result in debt waiver fringe benefits arising when those loans are formally written off by the employer? | A2: No.




Subject: FBT exemption: To protect the privacy and commercial in-confidence components of this private binding ruling, the following summary is provided. | The taxpayer sought a ruling in regard to whether benefits are exempt benefits under subsection 57A(2) of the Fringe Benefits Tax Assessment Act 1986 (FBTAA). | The Commissioner has ruled on questions relating to employees who work in certain facilities and their eligibility for the exemption.