Commonwealth Consolidated Acts

FRINGE BENEFITS TAX ASSESSMENT ACT 1986 - SECT 115B

                   If:

                     (a)  under subsection 58GA(2), an employer makes an estimate of an amount; and

                     (b)  the amount of the estimate is less than $10 million; and

                     (c)  the estimate is not a reasonable estimate;

then:

                     (d)  the Commissioner may make a reasonable estimate of that amount (taking into account the assumption in paragraph 58GA(2)(e)); and

                     (e)  if the amount of that reasonable estimate is $10 million or more--the employer is liable to pay, by way of penalty, additional tax equal to double the amount of the tax payable in respect of the benefit.