Document ID: chunk:federal_register_of_legislation:C2004A04616:section:2:p1
Version: federal_register_of_legislation:C2004A04616
Segment Type: section
Provision Reference: s 2 (pt 1/32)
Character Range: 38907–41572

2

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(2) The indexation of the AFP basic free area that occurs on 1 January 1994 (see item 16 of the CPI Indexation Table in section 1191 of the Principal Act) operates on the amount in Table HA in point 1069-H31 that is being inserted in the Principal Act by Part 2 of this Act.

Insertion of new Part 3.12A

  7. After Part 3.12 of the Principal Act the following Part is inserted:

"PART 3.12A—GENERAL PROVISIONS RELATING TO THE FAMILY PAYMENT INCOME TEST AND THE PARENTAL MEANS TEST

"Division 1—Purpose of this Part

Purpose of Part

"1157A.(1) Division 2 of this Part describes the kind of benefits that can be assessable fringe benefits. Division 3 to 7 tell you how to work out the value of the assessable fringe benefits received by a person in a tax year. Division 8 deals with foreign currency conversions. These provisions are necessary for the purposes of:

  (a) the family payment income test; and

  (b) the parental means test for social security benefits.

         Note 1: For the family payment income test see Module H of the Family Payment Rate Calculator in section 1069.
         Note 2: For the parental means test see Module G of Benefit Rate Calculator A in section 1067.
     Note 3: For 'assessable fringe benefit' see section 10A.
         Note 4: A fringe benefit is one that is provided by an employer to an employee in respect of the employee's employment (see section 10A).

"(2) Section 10A contains many of the definitions that are relevant to the provisions of this Part.

"Division 2—Benefits that may be assessable fringe benefits

Benefits received in or outside Australia

"1157B. This Part applies to a fringe benefit whether the benefit is received in or outside Australia.

Car benefits

  "1157C.(1) A person (the 'employee') receives a car benefit if:

  (a) a car held by another person (the 'provider'):

        (i) is applied to a private use by the employee or an associate of the employee; or

        (ii) is taken under subsection (2), (3) or (4) to be available for the private use of the employee or an associate of the employee; and

  (b) either:

        (i) the provider is the employer, or an associate of the employer, of the employee; or

        (ii) the car is applied or available in that way under an arrangement between:

          (A) the provider or another person; and

          (B) the employer or an associate of the employer.

"(2) A car is taken, for the purposes of subsection (1), to be available at a particular time for the private use of the employee or an associate of the employee if:

  (a) the car is held by a person who is:

      (i) the employer; or

      (ii) an