15Value of wages comprising fringe benefits

15 Value of wages comprising fringe benefits (1) For this Act, the value of wages comprising a fringe benefit is to be determined in accordance with the formula: rateFBT1 TV − × TV is the value that would be the taxable value of the benefit as a fringe benefit for the FBTA Act.

Payroll Tax Act 2009 13 FBT rate is the rate of fringe benefits tax imposed by the FBTA Act that applies when the liability to payroll tax under this Act arises. (2) In this Act, a reference to taxable wages that were paid or payable by an employer during a month is, in relation to taxable wages comprising fringe benefits: (a) a reference to the value of the fringe benefits paid or payable by the employer during the month; or (b) if an election by the employer is in force under section 16, a reference to an amount calculated in accordance with that (3) In this Act, a reference to taxable wages that were paid or payable by an employer during a year is, in relation to taxable wages comprising fringe benefits, a reference to an amount calculated by adding together the amounts under subsection (2)(a) or (b), or subsection (2)(a) and (b), as the case requires, for the months of that year.