Document ID: chunk:federal_register_of_legislation:C2025C00120:section:5b:p3
Version: federal_register_of_legislation:C2025C00120
Segment Type: section
Provision Reference: s 5B (pt 3/4)
Character Range: 22372–25219

the employer if subsection 135Q(1) were amended:

                (a) by omitting "or 58"; and
                (b) by omitting "one of those sections" from paragraph (b) and "those sections" from paragraph (c) and substituting in each case "that section".

           Step 2. Identify the benefits taken into account in step 1 that are GST‑creditable benefits (see section 149A).
           Step 3. So much of the amount worked out under step 1 that relates to the benefits identified under step 2 is the step 3 of subsection (1K) amount for the individual.
           Step 4. The remainder of the amount is the step 4 of subsection (1K) amount for the individual.

Working out the subsection (1L) amounts
 (1L) An employee's subsection (1L) amounts for the year of tax are worked out as follows.

      Method statement
           Step 1. Work out for each employee his or her share (if any) of the amounts that, if section 57A did not apply, would be the taxable values of the excluded fringe benefits for the year of tax in respect of the employee's employment by the employer if those benefits were not excluded fringe benefits, but disregarding benefits:

                (a) that constitute the provision of meal entertainment as defined in section 37AD (whether or not the employer made an election under section 37AA); or
                (b) that are car parking fringe benefits; or
                (c) whose taxable values are wholly or partly attributable to entertainment facility leasing expenses.

           Step 2. Identify the benefits taken into account in step 1 that are GST‑creditable benefits (see section 149A).
           Step 3. So much of the amount worked out under step 1 that relates to the benefits identified under step 2 is the step 3 of subsection (1L) amount for the individual.
           Step 4. The remainder of the amount is the step 4 of subsection (1L) amount for the individual.

Salary packaged meal entertainment and entertainment facility leasing benefits
 (1M) This subsection covers a benefit that is provided under a salary packaging arrangement if:
 (a) the benefit is constituted by the provision of meal entertainment (as defined in section 37AD, whether or not the employer has elected that Division 9A of Part III apply to the employer); or
 (b) the benefit is wholly or partly attributable to entertainment facility leasing expenses.

Using aggregate fringe benefits amount for most recent base year
 (2) This section is subject to section 135G.
Note: Section 135G allows the fringe benefits taxable amount to be worked out using the employer's aggregate fringe benefits amount from an earlier year of tax in special cases.

Definitions
 (3) In this section:
FBT rate means the rate of fringe benefits tax for the year of tax.
GST rate means the rate of goods and services tax payable under