Fringe benefits tax: when may a benefit be considered to have a small notional taxable value for the purposes of determining whether it is an exempt minor benefit under section 58P of the Fringe Benefits Tax Assessment Act 1986?

Taxation Determination TD 93/197, which was released on 21 October 1993, considers the meaning of 'small' in relation to 'notional taxable value' for the purposes of paragraph 58P(1)(e) of the Fringe Benefits Tax Assessment Act 1986 (FBTAA).

The term 'small' was removed from section 58P of the FBTAA in 1996 and replaced by 'less than $100'. 'Less than $100' has now been replaced by 'less than $300' with effect from 1 April 2007. Because of these changes Taxation Determination TD 93/197 does not reflect the current law.

Draft Taxation Ruling TR 2007/D6 - Fringe benefits tax: minor benefits , which was released today, covers the issues considered in Taxation Determination TD 93/197.

Accordingly, Taxation Determination TD 93/197 is withdrawn.