The Australian Society of CPA's the Institute of Chartered Accountants in Australia and the Taxation Institute of Australia have the following concerns in relation to the draft ruling:(i) para 25 it is not clear how a benefit provided at the direction of an employee canbe exempt income under section 23L of the ITAA 1936. It seems that FBT should not apply, nor therefore should section 23L, and the employee should be subject to income tax.
maintenance