Document ID: chunk:federal_register_of_legislation:C2025C00120:section:5:p3
Version: federal_register_of_legislation:C2025C00120
Segment Type: section
Provision Reference: s 5 (pt 3/7)
Character Range: 523339–525852

a year of tax, means the amount calculated in respect of that period:
 (a) in a case where the person had attained the age of 12 years before the beginning of the year of tax—at the rate of $42 per week; and
 (b) in any other case—at the rate of $21 per week.
statutory interest rate:
 (a) in relation to a year of tax, means the benchmark interest rate in relation to the year of tax; or
 (b) in relation to a time (in this paragraph referred to as the loan time) before 1 July 1986, means:
 (i) if the loan time occurred after 2 April 1986:
 (A) if there is only 1 benchmark interest rate in relation to the loan time—that rate;
 (B) if there are 2 or more benchmark interest rates in relation to the loan time—the lower or lowest of those rates; or
 (C) if there is no benchmark interest rate in relation to the loan time—such rate as is prescribed;
 (ii) if the loan time occurred during a period specified in the Schedule—the rate specified in the Schedule in relation to that period; and
 (iii) if the loan time occurred before 1 January 1946—3.875% per annum.
stratum unit, in relation to a dwelling, means a unit on a unit plan registered under a law of a State or Territory that provides for the registration of titles of a kind known as unit titles or strata titles, being a unit that comprises:
 (a) a part of a building containing the dwelling, being a part consisting of a flat or home unit; or
 (b) a part of a parcel of land, being a part on which the building containing the dwelling is constructed.
supplementary car rate, in relation to a year of tax, means the rate prescribed for the purposes of this definition in relation to the year of tax.
tangible property means goods and includes:
 (a) animals, including fish; and
 (b) gas and electricity.
tax‑exempt body entertainment benefit means a benefit referred to in section 38.
tax‑exempt body entertainment fringe benefit means a fringe benefit that is a tax‑exempt body entertainment benefit.
taxi travel has the meaning given by the A New Tax System (Goods and Services Tax) Act 1999.
tenancy period, in relation to a housing benefit in relation to a year of tax, means the period during the year of tax when the housing right to which the benefit relates subsisted.
this Act includes:
 (a) the regulations; and
 (b) Part IVC of the Taxation Administration Act 1953, insofar as that Part relates to this Act.
travel diary, in relation to particular travel undertaken by the recipient of an expense payment fringe benefit, a property fringe