Document ID: chunk:federal_register_of_legislation:F2024L00337:reg:5
Version: federal_register_of_legislation:F2024L00337
Segment Type: reg
Provision Reference: reg 5
Character Range: 2219–4055

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 subparagraph 61C(3)(b)(iii) 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 reducing the taxable value of an expense payment fringe benefit, housing fringe benefit or residual fringe benefit described in section 61C of the Act, in circumstances where:
 (a) the employer provided an employee with:
 (i) an expense payment fringe benefit, housing fringe benefit or residual fringe benefit in respect of a lease or licence for a unit of accommodation occupied or used for the temporary accommodation of family members; or
 (ii) an expense payment fringe benefit or a residual fringe benefit in respect of goods primarily for domestic use in connection with a unit of accommodation occupied or used for the temporary accommodation of family members;
 (b) the temporary accommodation is required solely because the employee is required to change their usual place of residence in order to perform the duties of their employment;
 (c) the temporary accommodation is located at or near the employee's new place of employment and the requirements of paragraph 61C(1)(d) of the Act are met;
 (d) the fringe benefit is not provided under a non-arm's length arrangement;
 (e) the employer was not given a declaration that satisfies the requirements of subparagraph 61C(3)(b)(iii) of the Act; and
 (f) the employer relies on the adequate alternative records provision contained in subsection 123AA(1) of the Act.