Document ID: chunk:federal_register_of_legislation:C2025C00120:section:135q:p2
Version: federal_register_of_legislation:C2025C00120
Segment Type: section
Provision Reference: s 135Q (pt 2/2)
Character Range: 423695–424478

how to work out the employee's individual fringe benefits amount for the year of tax.

Size of the reportable fringe benefits amount
 (4) The reportable fringe benefits amount is the amount worked out using the formula:

where:
individual fringe benefits amount is the employee's individual fringe benefits amount (if any) for the year of tax in respect of the employee's employment by the employer.
individual quasi‑fringe benefits amount is the employee's individual quasi‑fringe benefits amount for the year of tax in respect of the employee's employment by the employer.
rate of tax is the rate of tax for the year of tax.

Relationship with section 135P
 (5) This section has effect despite section 135P.

Part XIC—Application of the Act to nominated State or Territory bodies