Document ID: chunk:federal_register_of_legislation:C2004A00644:clause:1_2:p3
Version: federal_register_of_legislation:C2004A00644
Segment Type: clause
Provision Reference: sch 1 cl 2 (pt 3/3)
Character Range: 6612–8321

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.