Message from the Governor-General recommending appropriation for requested amendment announced.

Bill returned from the Senate with a requested amendment.

Ordered that the requested amendment be considered immediately.

Senate’s requested amendment—

SCHEDULE A

(1)    Schedule 6, page 34 (after line 16), after item 9, insert:

9A  Paragraph 2(1)(b) of Schedule 3

Omit “reportable fringe benefits total”, substitute “adjusted fringe benefits total”.

9B  Clause 4 of Schedule 3

Repeal the clause, substitute:

4  Adjusted fringe benefits total

                 An individual’s adjusted fringe benefits total for an income year is the amount worked out using the formula:

where:

FBT rate is the rate of tax set by the Fringe Benefits Tax Act 1986 for the FBT year (as defined in the Fringe Benefits Tax Assessment Act 1986) beginning on the 1 April just before the start of the income year.

reportable fringe benefits total is the amount that the Secretary is satisfied is the individual’s reportable fringe benefits total (as defined in the Fringe Benefits Tax Assessment Act 1986) for the income year.

9C  Application

The amendments made by items 9A and 9B apply in relation to the 2008-09 income year and later income years.

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