Section RD 49 — Income Tax Act 2007: Application of thresholds to attributed benefits

RD 49 Application of thresholds to attributed benefits When this section applies (1) This section applies when the value of a fringe benefit described in section RD 47 is above or below the threshold referred to in that section. Below threshold (2) If the taxable value of a benefit under section RD 47(1)(c) and (d) is under the relevant threshold, the employer must either— (a) attribute all fringe benefits with an annual taxable value under the relevant threshold that fall within the particular category; or (b) pool the value of the benefit under section RD 53 . Exception for subsidised transport (3) Despite section RD 47(1)(c)(i) , if the employer provides subsidised transport under section CX 9 (Subsidised transport) with a taxable value over the threshold, they may pool the value of the benefit under section RD 53 if all their employees have the same or a similar entitlement to the fringe benefit. Amending thresholds (4) The Governor-General by Order in Council may determine the amount of the thresholds referred to in section RD 47 , setting out the first tax year in which the threshold is to apply. Defined in this Act: amount , employee , employer , fringe benefit , subsidised transport , tax year , Compare: 2004 No 35 ss ND 3(4)–(7) , ND 4 , ND 16