Document ID: chunk:federal_register_of_legislation:C2025C00120:section:5:p1
Version: federal_register_of_legislation:C2025C00120
Segment Type: section
Provision Reference: s 5 (pt 1/7)
Character Range: 518654–521315

5                             Section 12‑120  Compensation, sickness or accident payment

salary packaging arrangement means an arrangement under which a benefit is provided to an employee, or an associate of an employee, if:
 (a) the benefit is provided in return for the employee agreeing to a reduction in the employee's salary or wages that would not have happened apart from the arrangement; or
 (b) the arrangement is part of the employee's remuneration package, and the benefit is provided in circumstances where it is reasonable to conclude that the employee's salary or wages would be greater if the benefit were not provided.
Second Commissioner means a Second Commissioner of Taxation.
small business entity has the same meaning as in the Income Tax Assessment Act 1997.
small expense payment fringe benefit means an expense payment fringe benefit where the recipients expenditure does not exceed $10.
spouse has the meaning given by subsection 995‑1(1) of the Income Tax Assessment Act 1997.
stand‑by airline travel value, in relation to an airline transport fringe benefit, means:
 (a) if the transport is over a domestic route—50% of the carrier's lowest standard single economy air fare:
 (i) for that route; and
 (ii) as publicly advertised during the year of tax; or
 (b) if the transport is over an international route—50% of the lowest of any carrier's standard single economy air fare:
 (i) for that route; and
 (ii) as publicly advertised during the year of tax.
statutory evidentiary document, in relation to an employer in relation to a year of tax (in this definition called the current year of tax), means:
 (a) a declaration or other document that is:
 (i) given to the employer pursuant to a provision of Part III or of a definition in this subsection that is relevant to that Part; and
 (ii) relevant for the purposes of determining:
 (A) the taxable value of a fringe benefit provided in, or in respect of, the current year of tax in respect of the employment of an employee of the employer;
 (AA) the notional taxable value of a benefit provided in, or in respect of, the current year of tax in respect of the employment of an employee of the employer; or
 (B) whether a benefit provided in, or in respect of, the current year of tax in respect of the employment of an employee of the employer is an exempt benefit; and
 (aa) records of a nomination under section 162K or 162L that:
 (i) are maintained by the employer in relation to the current year of tax; or
 (ii) were maintained by the employer in relation to an earlier year of tax but are relevant to the employer's liability under this Act in respect of the current year of