Document ID: chunk:federal_register_of_legislation:F2024L00349:reg:5
Version: federal_register_of_legislation:F2024L00349
Segment Type: reg
Provision Reference: reg 5
Character Range: 1816–3720

5  Specified matters
 (1) For the purposes of subsection 123AA(2) of the Act, the following matters are specified:
 (a) the FBT year ending 31 March 2025 and all subsequent FBT years;
 (b) the statutory evidentiary document consisting of the travel diary referred to in:
 (i) paragraph 24(1)(d) of the Act for an expense payment fringe benefit;
 (ii) paragraph 44(1)(d) of the Act for a property fringe benefit;
 (iii) paragraph 52(1)(d) of the Act for a residual fringe benefit;
 (c) the class of persons described in subsection 5(2); and
 (d) the alternative records described in section 6.
 (2) The class of persons described for the purposes of paragraph 5(1)(c) are employers that:
 (a) provide an employee with one of the following benefits in respect of travel undertaken in an FBT year:
 (i) an expense payment fringe benefit that is an extended travel expense payment benefit (other than an international aircrew expense payment benefit), where the employer is required to obtain a travel diary from the recipient of the benefit under paragraph 24(1)(d) of the Act;
 (ii) a property fringe benefit that is an extended travel property benefit (other than an international aircrew property benefit), where the employer is required to obtain a travel diary from the recipient of the benefit under paragraph 44(1)(d) of the Act; or
 (iii) a residual fringe benefit that is an extended travel residual benefit (other than an international aircrew residual benefit), where the employer is required to obtain a travel diary from the recipient of the benefit under paragraph 52(1)(d) of the Act;
 (b) can reduce the taxable value of the fringe benefit under the otherwise deductible rule in section 24, 44 or 52 of the Act, as relevant; and
 (c) choose not to obtain the relevant travel diary, and instead rely on the adequate alternative records provision contained in subsection 123AA(1) of the Act.