Commonwealth Numbered Acts

TAXATION LAWS AMENDMENT ACT (NO. 2) 2001 NO. 167, 2001 - SCHEDULE 4

Fringe Benefits Tax Assessment Act 1986

1 At the end of section 57A

Add:

(5)

A benefit provided in respect of the employment of an employee is an exempt benefit if:

(a)

the employer of the employee is a charitable institution; and

(b)

the institution's principal activity is to promote the prevention or the control of diseases in human beings.

2 Subsection 65J(1)

After "public benevolent institution", insert ", is not a charitable institution described in subsection 57A(5),".

3 Subsection 135Q(1) (note)

After "public benevolent institutions", insert ", certain charitable institutions".

4 Application

(1) The amendment of the Fringe Benefits Tax Assessment Act 1986 made by item 1 of this Schedule applies in respect of the FBT year beginning on 1 April 1998 and in respect of all later FBT years.
(2) The amendment of the Fringe Benefits Tax Assessment Act 1986 made by item 2 of this Schedule applies in respect of the FBT year beginning on 1 April 2000 and in respect of all later FBT years.
(3) The amendment of the Fringe Benefits Tax Assessment Act 1986 made by item 3 of this Schedule applies in respect of the FBT year beginning on 1 April 1999 and in respect of all later FBT years.

Income Tax Assessment Act 1936

5 Subsection 78(3) (index)

After:

insert:

6 Subsection 78(4) (after item 1.1.5 of Table 1)

Insert:

7 Application

The amendments of the Income Tax Assessment Act 1936 made by items 5 and 6 of this Schedule apply to gifts made in the 1996-97 income year and earlier income years.

Income Tax Assessment Act 1997

8 Subsection 30-20(1) (after table item 1.1.5)

Insert:

9 Subsection 30-315(2) (after table item 45)

Insert:

10 Application

The amendments of the Income Tax Assessment Act 1997 made by items 8 and 9 of this Schedule apply to gifts made in the 1997-98 income year and later income years.

Sales Tax (Exemptions and Classifications) Act 1992

11 After item 140 of Sub-Chapter 14.3 of Chapter 14 of Schedule 1

Insert:

Item 140A: [Charitable institutions]

Goods for use by a charitable institution whose principal activity is to promote the prevention or the control of diseases in human beings.

12 Application

The amendment of Sub-Chapter 14.3 of Chapter 14 of Schedule 1 to the Sales Tax (Exemptions and Classifications) Act 1992 made by item 11 of this Schedule applies to dealings with goods on or after 28 October 1992.