Document ID: chunk:federal_register_of_legislation:C2025C00120:section:24:p5
Version: federal_register_of_legislation:C2025C00120
Segment Type: section
Provision Reference: s 24 (pt 5/6)
Character Range: 102152–104777

unreasonable to expect the recipient to have obtained documentary evidence of the recipients expenditure, the expense payment fringe benefit shall be deemed to be, and always to have been, an undocumentable expense payment fringe benefit.
 (4) For the purposes of paragraph (1)(c), the part of a petty cash book or similar document that sets out the particulars that would be set out in documentary evidence of the recipients expenditure (other than particulars of the date on which the documentary evidence was made out) is taken to be substitute documentary evidence of the recipients expenditure. The entry must be in English.
 (5) Where:
 (a) the recipients expenditure in relation to each of 2 or more expense payment fringe benefits (whether or not in relation to the same year of tax) is the same expenditure; and
 (b) paragraph (1)(b) applies in relation to the recipients expenditure;
this Act applies, and shall be deemed always to have applied, as if all the payments or reimbursements to which those fringe benefits relate had been made at the time when the first of those payments or reimbursements was made and not otherwise, and nothing in section 74 prevents the amendment of an assessment for the purpose of giving effect to this subsection.
 (6) For the purposes of the application of this section to an in‑house expense payment fringe benefit, a reference to the recipients contribution in relation to the fringe benefit is a reference to the amount ascertained under whichever of paragraphs 22A(1)(b) or (2)(b) is applicable.
 (9) For the purposes of paragraph (1)(l) (which applies to an expense payment fringe benefit that, under subsection 138(3), is deemed to have been provided to an employee only), the amount is calculated in accordance with the formula:

where:
employee's percentage of interest:
 (a) is the percentage of the interest held by the employee, during a period (in this subsection called the holding period) in the year of tax, in the asset or other thing that:
 (i) relates to the matter in respect of which the expense payment fringe benefit is provided; and
 (ii) is applied or used for the purpose of producing assessable income of the employee; and
 (b) does not include the percentage of the interest held in that asset or other thing by the employee's associate or associates during the holding period.
unadjusted ND is the amount that would be ascertained as representing the component ND in the formula in subsection (1) if paragraph (1)(l) did not apply in relation to the expense payment fringe benefit.

Division 6—Housing fringe benefits

Subdivision A—Housing benefits