Document ID: chunk:federal_register_of_legislation:F2024L00348:reg:5
Version: federal_register_of_legislation:F2024L00348
Segment Type: reg
Provision Reference: reg 5
Character Range: 1808–3474

5  Specified matters
 (1) For the purposes of subsection 123AA(2) of the Act, the following matters are specified:
 (a) the FBT year ending 31 March 2025 and all subsequent FBT years;
 (b) the statutory evidentiary document consisting of the declaration referred to in paragraph 31F(1)(a) of the Act;
 (c) the class of persons described in subsection 5(2); and
 (d) the alternative records described in section 6.
 (2) The class of persons described for the purposes of paragraph 5(1)(c) are employers that are either reducing the taxable value of a living-away-from-home allowance fringe benefit described in section 31 of the Act, or that have provided an exempt accommodation expense payment benefit described in section 21 of the Act or an exempt residual benefit described in subsection 47(5) of the Act, in circumstances where:
 (a) the employer provided an employee with a living-away-from-home allowance fringe benefit, an exempt accommodation expense payment benefit, or an exempt residual benefit consisting of the use of a unit of accommodation in a year of tax;
 (b) the employee maintained a home in Australia such that they satisfy section 31C of the Act;
 (c) the benefit relates to the first 12 month period that the employee's duties of employment require them to live away from the place in Australia where they usually reside when in Australia such that they satisfy section 31D of the Act;
 (d) the employer was not given a declaration that satisfies the requirements of paragraph 31F(1)(a) and subsection 31F(2) of the Act; and
 (e) the employer relies on the adequate alternative records provision contained in subsection 123AA(1) of the Act.