1157T

Value of grants of housing rights—general

In force

(1)

This is how to work out the value of a housing fringe benefit to which subsection 1157I(1) applies that is provided to a person who is not an employee of the Defence Force:

Method statement

Step 1. Work out the location of the unit of accommodation and go to the appropriate row of the Housing Fringe Benefits Value Table.

Step 2. Work out the type of accommodation and go to the appropriate column in the Table: the number where the row and column intersect is the weekly market rent of the unit of accommodation.

Note:

If the person is a member of a couple, the weekly market rent is to be halved in certain circumstances (see subsection (4)).

Step 3. Work out how many complete weeks in the appropriate tax year the unit of accommodation was or will be available to the person.

Step 4. Multiply the weekly market rent of the unit of accommodation and the number of weeks obtained in Step 3: the result is the provisional value of the housing fringe benefit.

Step 5. Work out the allowable rent for the unit of accommodation in the appropriate tax year using subsection (3).

Note:

If the person is a member of a couple, the allowable rent is to be halved in certain circumstances (see subsection (4)).

Step 6. Take the allowable rent away from the provisional value of the housing fringe benefit: the result is the value of the housing fringe benefit.

(2)

The following Table is to be used in working out the value of a housing fringe benefit to which subsection 1157I(1) applies that is provided to a person who is not an employee of the Defence Force:

Housing fringe benefits value table
Location	Type of accommodation
	House, flat or home unit		Any other unit of accommodation
	3 or more bedrooms	1‑2 bedrooms	Any other unit of accommodation
Metropolitan	140	120	85
Non‑metropolitan	100	90	70
Special housing	80	80	25
Outside Australia	140	120	85

Note 1:

For unit of accommodation, metropolitan location, non‑metropolitan location and special housing location see section 10A.

Note 2:

A housing fringe benefit that is received outside Australia is to be valued (see section 1157B).

Note 3:

For Australia see subsection 23(1).

(3)

The allowable rent is the amount of rent that the Secretary is satisfied is payable for the unit of accommodation in the appropriate tax year by:

(a)

if the person is not a member of a couple—the person; or

(b)

if the person is a member of a couple—the person and the person’s partner.

(4)

If:

(a)

the person is a member of a couple; and

(b)

the person’s partner receives a housing fringe benefit in the appropriate tax year; and

(c)

the person’s and the partner’s housing fringe benefits relate to the same unit of accommodation;

the weekly market rent obtained in Step 2 of the Method statement and the allowable rent obtained in Step 5 of the Method statement are both to be halved.

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