Document ID: chunk:federal_register_of_legislation:C2025C00120:section:5c:p2
Version: federal_register_of_legislation:C2025C00120
Segment Type: section
Provision Reference: s 5C (pt 2/3)
Character Range: 28152–30919

taxable values of all those excluded fringe benefits.
                  Note 1: Subsection 5E(3) explains what is an excluded fringe benefit.
                  Note 2: Section 149A explains what is a GST‑creditable benefit.
           Step 4. Add the total from step 2 to the total from step 3.
                  Note: The result of step 4 is the employer's type 1 aggregate fringe benefits amount if there are no amortised amounts in relation to the employer.
           Step 5. Add to the total from step 4 the amortised amount for the year of tax of each amortised fringe benefit (if any) relating to an employee of the employer, the employer and any year of tax that are GST‑creditable benefits. The total amount is the employer's type 1 aggregate fringe benefits amount for the year of tax.
                  Note: Section 65CA explains what is an amortised fringe benefit.
 (4) Work out an employer's type 2 aggregate fringe benefits amount for a year of tax as follows.

      Method statement
           Step 1. Identify, in respect of each of the employer's employees, the fringe benefits that are not taken into account under step 1 of the method statement in subsection (3), and work out under Division 3 for each of those employees the individual fringe benefits amount for the year of tax in relation to those fringe benefits.
           Step 2. Add up all the individual fringe benefits amounts worked out under step 1.
           Step 3. Identify, in respect of each of the employer's employees, the excluded fringe benefits (other than an amortised fringe benefit) for the year of tax that are not taken into account under step 3 of the method statement in subsection (3), and add up the taxable values of all those excluded fringe benefits.
                  Note: Subsection 5E(3) explains what is an excluded fringe benefit.
           Step 4. Add the total from step 2 to the total from step 3.
                  Note: The result of step 4 is the employer's type 2 aggregate fringe benefits amount if there are no amortised amounts or reducible fringe benefits in relation to the employer.
           Step 5. Add to the total from step 4 the amortised amount for the year of tax of each amortised fringe benefit (if any) relating to an employee of the employer, the employer and any year of tax that is not taken into account under step 5 of the method statement in subsection (3).
                  Note 1: The result of step 5 is the employer's type 2 aggregate fringe benefits amount if there are no reducible fringe benefits in relation to the employer.
                  Note 2: Section 65CA explains what is an amortised fringe benefit.
           Step 6. Subtract from the total from step 5 the reduction amount for the year of tax of each