30June in the year—1/12th of the amount worked out under

30 June in the year—1/12th of the amount worked out under subsection (2), or the part of that amount that, under section 10 (Meaning of taxable wages), consists of taxable wages for the year of tax (under the FBTA Act) ending on 31 March before the beginning of the current financial year; and (b) in the return lodged in relation to the 12th month—the amount worked out under subsection (2), or the part of that amount that, under section 10, consists of taxable wages for the year of tax (under the FBTA Act) ending on 31 March before the month, less the total of the amounts of fringe benefits included in the returns for each of the earlier 11 months. (2) An amount is worked out under this subsection as follows: AFBA × 1 1 − FBT rate (3) An election under subsection (1) takes effect when it is notified to the commissioner. (4) After an employer has made an election under subsection (1), the employer must lodge returns containing amounts worked out in accordance with the election unless the commissioner approves, by written notice given to the employer, the termination of the election and allows the employer to include the value mentioned in section 15 (2) (a) (Value of wages that are fringe benefits).

Superannuation contributions Division 3.3 (5) If an employer ceases to be liable to pay payroll tax, the value of taxable wages that are fringe benefits to be included in the employer’s final return is (whether or not the employer has made an election under subsection (1)) the value of the fringe benefits paid or payable by the employer for the period beginning on the previous 1 July until the date when the employer ceases to be liable to payroll tax, less the value of the fringe benefits paid or payable by the employer in that period when payroll tax has been paid. (6) In this section: AFBA means the aggregate fringe benefits amount under the FBTA Act, section 136 (Interpretation). FBT rate means the rate of fringe benefits tax imposed by the FBTA Act that applies when the liability to payroll tax under this Act arises. Division 3.3 Superannuation contributions