48Taxable value of in‑house non‑period residual fringe benefits

#### 48 Taxable value of in‑house non‑period residual fringe benefits Subject to this Part, the taxable value of an in‑house non‑period residual fringe benefit in relation to an employer in relation to a year of tax is: (aa) if the benefit was provided to the recipient under a salary packaging arrangement—an amount equal to the notional value of the benefit at the comparison time; or (ab) if paragraph (aa) does not apply and the benefit is an airline transport fringe benefit—an amount equal to 75% of the stand‑by airline travel value of the benefit at the comparison time; or (a) if neither paragraph (aa) nor (ab) applies and, at or about the comparison time, identical benefits were provided by the provider: (i) in the ordinary course of business to members of the public under an arm’s length transaction or arm’s length transactions; and (ii) in similar circumstances and subject to identical terms and conditions (other than as to price) as those that applied in relation to the provision of the recipients benefit to the recipient; an amount equal to 75% of the lowest price at which an identical benefit was so sold to a member of the public; or (b) in any other case—an amount equal to 75% of the notional value of the benefit at the comparison time; reduced by the amount of the recipients contribution.