CR 2016/29 is amended as follows:
Omit title; substitute:
Fringe benefits tax: employer clients of Bendigo and Adelaide Bank Limited who are subject to the provisions of either sections 57A or 65J of the Fringe Benefits Tax Assessment Act 1986 that make use of a B-Entertained MasterCard debit card facility
Omit the table of contents; substitute:
|Table of Contents||Paragraph|
|LEGALLY BINDING SECTION:|
|What this Ruling is about||1|
|Date of effect||7|
|NOT LEGALLY BINDING SECTION:|
|Detailed contents list||85|
Omit the dot points, insert:
Omit ’31 March 2020′; substitute ’31 March 2024′.
(a) After the heading Scheme, insert:
Community Sector Banking Pty Ltd
7A. Community Sector Banking Pty Ltd ABN 88 098 858 765 (AFSL authorised representative No. 265317 and Australian Credit authorised representative No. 379667) (CSB) is a franchisee of BEN, and is a wholly-owned subsidiary of Community Sector Enterprises Pty Ltd ABN 95 098 858 354 (CSE). CSE is a 50/50 joint venture between BEN and Community 21 Limited ABN 79 097 612 416 (C21).
7B. The banking product that forms the basis for the scheme that is the subject of this class ruling is and always has been a banking product of BEN.
7C. CSB distributed a suite of BEN banking products to customers in the not-for-profit sector under the terms of a franchise agreement. In early 2020, BEN acquired all of the shares held by C21 in CSE via a share sale and purchase agreement. Despite the change in form and structure of the arrangement, the substance of the product suite remains unchanged.
(b) Omit the dot points; substitute:
Omit ‘CSB’; substitute ‘BEN’.
In the detailed contents list:
|Community Sector Banking Pty Ltd||7A|
Commissioner of Taxation
6 October 2021
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