Commonwealth Consolidated Acts

TAXATION LAWS AMENDMENT ACT (NO. 5) 2001 - SCHEDULE 5

Fringe Benefits Tax Assessment Act 1986

1  After paragraph 65J(1)(k)

Insert:

                    (ka)  a non‑profit society, or non‑profit association, established for the purpose of promoting the development of Australian information and communications technology resources;

2  Paragraph 65J(1)(l)

After "viticultural,", insert "aquacultural, fishing,".

3  Application

(1)        The amendment made by item 1 applies to benefits provided on or after 1 April 2000.

(2)        The amendment made by item 2 applies to benefits provided on or after 1 April 1999.

Income Tax Assessment Act 1997

4  Section 50‑40 (at the end of the table)

Add:

5  Application

The amendment made by item 4 applies to income derived on or after 1 July 2000.