Fringe Benefits Tax Act 1986

s 1 — Short title

This Act may be cited as the Fringe Benefits Tax Act 1986.

s 2 — Commencement

This Act shall come into operation on the day on which the Fringe Benefits Tax Assessment Act 1986 comes into operation.

s 3 — Incorporation

The Fringe Benefits Tax Assessment Act 1986 is incorporated and shall be read as one with this Act.

s 4 — Act binds the Crown

This Act binds the Crown in right of each of the States, of the Australian Capital Territory and of the Northern Territory.

Amendment history: Repealed and substituted by No 145 of 2015, Sch 3 item 2 | Sch 3 item 14 | Sch 3 item 19 | Sch 3 item 20 | Sch 3 item 21 | Sch 3 item 24 | Sch 3 item 27 | Sch 3 item 29 | Sch 3 item 30 | Sch 3 item 38, effective Sch 3 (item 19): 10 Dec 2015 (s 2(1) item 7) | Amended by No 41 of 2018, Sch 2 item 3 | Sch 4 item 7 | Sch 4 item 16 | Sch 4 item 17 | Sch 4 item 19 | Sch 4 item 21 | Sch 4 item 22, effective Sch 4 (item 7): 19 June 2018 (s 2(1) item 4)

s 5 — Imposition of tax

Tax is imposed in respect of the fringe benefits taxable amount of an employer of a year of tax.

s 6 — Rate of tax

The rate of tax in respect of the fringe benefits taxable amount of an employer of a year of tax is 47%.

Amendment history: Repealed and substituted by No 70 of 1989, item 9 | item 47, effective Sch: 21 June 1989 (s 2) | Amended by No 213 of 1991, item 3, effective 24 Dec 1991 (s 2) | Amended by No 55 of 1993, item 19, effective s 3-6: 27 Oct 1993 (s 2(1)) | Amended by No 55 of 1995, Sch 1 item 1 | Sch 2 item 1, effective Sch 2: 1 Apr 1996 (s 2) Remainder: 28 June 1995 (s 2) | Amended by No 55 of 2006, Sch 1 item 6 | Sch 1 item 31 | Sch 2 item 1, effective Sch 2: 19 June 2006 (s 2(1) item 3) | Amended by No 39 of 2013, Sch 1 item 1, effective 28 May 2013 (s 2(1) item 2)

s 6A — Temporary budget repair levy

(1) This section applies to the temporary budget repair levy years for FBT. (2) Increase the rate of tax mentioned in section 6 by 2 percentage points. (3) In this section, each of the following is a temporary budget repair levy year for FBT : (a) the year of tax starting on 1 April 2015; (b) the year of tax starting on 1 April 2016.

Amendment history: Inserted by No 42 of 2014, effective 25 June 2014 (s 2(1) item 2)

s 7 — Severability

It is the intention of the Parliament that if, but for this section, section 5 of this Act would impose a tax on property of any kind belonging to a State within the meaning of section 114 of the Constitution, section 5 of this Act shall have effect as if it did not impose that tax.