Document ID: chunk:federal_register_of_legislation:C2004A04616:section:2:p8
Version: federal_register_of_legislation:C2004A04616
Segment Type: section
Provision Reference: s 2 (pt 8/32)
Character Range: 55588–59555

mature persons or disadvantaged persons and dependent children of mature persons or disadvantaged persons; and

    (b) persons the duties of whose employment consist of, or consist principally of, caring for persons referred to in paragraph (a); and

  (c) partners and children of persons referred to in paragraph (b)

"Division 3—Value of car fringe benefits

Method of valuing car fringe benefits

"1157K.(1) Subject to subsection (2), the value of a car fringe benefit is to be worked out in accordance with section 1157L.

"(2) If a determination is in force under section 1157M, the value of a car fringe benefit is to be worked out in accordance with the determination.

Value of car fringe benefits

  "1157L.(1) This is how to work out the value of a car fringe benefit:
Method statement

      Step 1. Work out the engine capacity of the car and go to the relevant Part of the Car Fringe Benefits Value Table.

      Step 2. Work out how old the car is and go to the appropriate row in the Table.

      Step 3. Work out how many complete months in the appropriate tax year the person had or will have the car fringe benefit and go to the appropriate column in the Table: the number where that row and column intersect is the value of the car fringe benefit.

           Note: If the person is a member of a couple, the value of the car fringe benefit is to be halved in certain circumstances (see subsection (3)).

"(2) The following Table is to be used in working out the value of a car fringe benefit:
                                                                CAR FRINGE BENEFITS VALUE TABLE
PART A—Car engine size up to 1600cc
                                         car age (years)                                               Period of use (completed months)
item                                     1                2     3                                4     5                                 6     7     8     9     10    11    12
1.                                       1                93.8  188                              281   375                               469   563   656   750   844   938   1031   1125
2.                                       2                83.6  168                              252   336                               420   504   588   672   756   840   923.8  1008
3.                                       3                74.2  148                              223   297                               371   445   520   594   668   742   816.4  890.6
4.                                       4                64.5  129                              193   258                               322   387   451   516   580   645   709    773.4
5.                                       5                54.7  109                              164   219                               273   328   383   438   492   547   601.6  656.3
6.                                       6                44.9  89.8                             135   180                               225   270   314   359   404   449   494.1  539.1
7.                                       7                35.2  70.3                             105   141                               176   211   246   281   316   352   386.7  421.9
8.                                       8                25.4  50.8                             76.2  102                               127   152   178   203   229   254   279.3  304.7
9.                                       9                15.6  31.3                             46.9  62.5                              78.1  93.8  109   125   141   156   171.9  187.5
10.                                      10+              5.86  11.7                             17.6  23.4                              29.3  35.2  41    46.9  52.7  58.6  64.45  70.31

PART B—Car engine size 1601cc to 2850cc
11.                                      1                229   458                              688   917