Summary
Amends the Fringe Benefits Tax Assessment Act 1986 to remove the fringe benefits tax (FBT) exemption for food and drink provided as part of a salary sacrifice arrangement; Fringe Benefits Tax Assessment Act 1986, Income Tax Assessment Act 1936 and Income Tax Assessment Act 1997 to restrict FBT exemptions for certain work-related items; Income Tax Assessment Act 1936 and Income Tax Assessment Act 1997 in relation to the tax treatment of employee share scheme arrangements; and Income Tax Assessment Act 1997 to increase to four years the period over which depreciable in-house software can be written off for tax purposes.