Valuation of housing fringe benefits provided to live-in village managers

When representatives of the Retirement Living Council Tax Committee and ATO met in August 2014, the Committee briefly raised the issue of the valuation of housing fringe benefits provided to live-in retirement village managers. This submission now provides further information on our position.

We submit that the Commissioner update Miscellaneous Taxation Ruling MT 2025 (Fringe Benefits Tax: Guidelines for Valuation of Housing Fringe Benefits) to cover the situation of a live-in manager in a retirement village, taking into account the unique characteristics of the accommodation provided. In this regard, we suggest a valuation discount of 25 per cent would be appropriate, taking into account the physical characteristics of the accommodation and the location within a retirement village.

Download submission below.