Title Taxation Laws Amendment Bill (No. 2) 1998
Database Bills & Legislation
Long Title a Bill for an Act to amend the law about income tax, and for related purposes
Date 11-11-1998
Source House of Reps
Parl No. 39
Bill Number 98154
Bill Type Government
Portfolio Treasurer's portfolio
Reps Bill Code T
Status Act
System Id legislation/bills/r602_act/0003


Taxation Laws Amendment Bill (No. 2) 1998
Schedule 2—FBT exemption for approved student exchange programs

  

Fringe Benefits Tax Assessment Act 1986

1  At the end of Division 13 of Part III

Add:

58ZB  Exempt benefits—approved student exchange programs

             (1)  Where:

                     (a)  a benefit is provided in, or in respect of, a year of tax in respect of the employment of an employee of an employer; and

                     (b)  the benefit is in respect of participation in an approved student exchange program by the employee or an associate of the employee; and

                     (c)  the employer or an associate of the employer did not select, or take part in the selection of, the employee or associate as a participant in the program;

the benefit is an exempt benefit in relation to the year of tax.

             (2)  An approved student exchange program is a student exchange program run by a body that is registered as a student exchange body with the relevant State or Territory body in accordance with the National Guidelines for Student Exchange that are published by the National Co‑ordinating Committee for International Secondary Student Exchange.

2  Application

The amendment made by this Schedule applies to the year of tax commencing on 1 April 1996 and all later years of tax.