Document ID: chunk:federal_register_of_legislation:F2024L00335:reg:6
Version: federal_register_of_legislation:F2024L00335
Segment Type: reg
Provision Reference: reg 6
Character Range: 3297–4481

6  Adequate alternative records
 (1) Records are adequate alternative records for the purposes of paragraph 5(1)(d) if they are written in English and contain the following information:
 (a) the name of the employee who received the benefit;
 (b) the dates (inclusive) on which the benefit was provided during the FBT year;
 (c) for an expense payment fringe benefit:
 (i) the nature of the expense; and
 (ii) the determined percentage for which the employee would have been entitled to claim an income tax deduction had they incurred the expense;
 (d) for a property fringe benefit:
 (i) the nature of the property; and
 (ii) the determined percentage for which the employee would have been entitled to claim an income tax deduction had they incurred the cost of the property for its market value;
 (e) for a residual fringe benefit:
 (i) the nature of the benefit; and
 (ii) the determined percentage for which the employee would have been entitled to claim an income tax deduction had they incurred the cost of the residual benefit for its market value.
 (2) The information specified in subsection 6(1) may be contained in:
 (a) any type of record; and
 (b) any number of records.