Document ID: chunk:federal_register_of_legislation:F2018L01284:reg:13
Version: federal_register_of_legislation:F2018L01284
Segment Type: reg
Provision Reference: reg 13
Character Range: 13829–14771

13  Variation of employer's notional tax amount
 (1) For the purposes of item 4 of the table in subsection 110(1) of the Act:
 (a) this section provides for varying the notional tax amount of employers for the current year; and
 (b) the prescribed day is 1 April 2006; and
 (c) the amount worked out under item 1 of the table in subsection 110(1) of the Act for the employer is varied by applying the formula in subsection (2).
 (2) The formula is as follows:
where:
base year rate of tax means the rate of tax, specified in section 6 of the Fringe Benefits Tax Act 1986, in respect of the employer's fringe benefits taxable amount for the base year.
current year rate of tax means the rate of tax, specified in section 6 of the Fringe Benefits Tax Act 1986, in respect of the employer's fringe benefits taxable amount for the current year.
Note: For the base year and current year, see subsection 110(1) of the Act.

Part 4—Other matters