47AExemption—no‑private‑use declaration

#### 47A Exemption—no‑private‑use declaration (1) A residual fringe benefit that is covered by a no‑private‑use declaration is an exempt benefit. (2) An employer may make a no‑private‑use declaration that covers all the employer’s residual fringe benefits for an FBT year that are covered by a consistently enforced policy in relation to the use of the property that is the subject of the benefit that would result in the taxable value of the benefit being nil. (3) The declaration must be in a form approved in writing by the Commissioner and be made by the declaration date.