Document ID: chunk:federal_register_of_legislation:F2024C01249:reg:4:p1
Version: federal_register_of_legislation:F2024C01249
Segment Type: reg
Provision Reference: reg 4 (pt 1/3)
Character Range: 82308–84954

4     A liability or prospective liability to pay tax in respect of a fringe benefit taxable amount under:
      (a) the Fringe Benefits Tax Assessment Act 1986; or
      (b) the Fringe Benefits Tax Act 1986;
      that relates to the provision of a matter specified in item 1, 2 or 3

 (2) For subregulation (1):
 (a) if a person has held an office in relation to a company:
 (i) throughout a period of more than 12 months; or
 (ii) throughout a number of periods of more than 12 months in total;
  the relevant period for that person is the last 12 months of that period or the last 12 months of the total period; and
 (b) if a person has held an office in relation to a company:
 (i) throughout a period of 12 months or less; or
 (ii) throughout a number of periods of 12 months or less in total;
  the relevant period for that person is that period or the total period.

2D.2.02  Meaning of benefit
 (1) For paragraph 200AB(1)(e) of the Act, each of the following things is specified:
 (a) any kind of pension, other than a pension paid from a superannuation fund or a superannuation annuity (whether it is paid from an Australian or a foreign fund);
 (b) an amount paid as a voluntary out‑of‑court settlement in a matter relating to the termination of employment;
 (c) a payment:
 (i) that is made as part of a restrictive covenant, restraint‑of‑trade clause or non‑compete clause (however described); and
 (ii) the value of which, when added to the value of all other payments (if any) already made or payable in connection with the person's retirement from board or managerial offices in the company and related bodies corporate, exceeds the payment limit set by section 200G of the Act.
Note: Subsection 200AB(1) of the Act provides that a benefit includes specified things. Paragraph 200AB(1)(e) of the Act provides that a benefit includes a thing specified in regulations. Things that are not specified in subsection 200AB(1) of the Act or subregulation (1) may also be benefits for the purposes of the Act.
 (2) For subsection 200AB(2) of the Act, each of the following things is specified:
 (a) a deferred bonus, including a benefit attributable to:
 (i) the release of the deferred bonus from a restriction relating to death or incapacity; or
 (ii) the investment of the deferred bonus; or
 (iii) another change to the value of the deferred bonus;
 (b) a payment from a defined benefits superannuation scheme that was in existence when this regulation commenced;
 (c) a genuine superannuation contribution that is paid by an employer or employee on or after the commencement of this regulation;
 (d) genuine accrued benefits that are