Fringe Benefits Tax Assessment Act 1986
This section has effect for the purposes of the application of section 10 in relation to car fringe benefits in relation to an employer in relation to a year of tax (in this section called the ``current year of tax'' ) or a subsequent year of tax.162K(2) [Nomination of replacement car to replace original car]
Where the employer nominates a particular car (in this section called the ``replacement car'' ) as having replaced another car (in this section called the ``original car'' ) with effect from a specified date in the current year of tax:
(a) the original car shall be treated, with effect from that date, as a different car; and
(b) the replacement car shall be treated, with effect from that date, as the same car as the original car.
A nomination shall be made in writing on or before the declaration date for the current year of tax.
A nomination shall specify the make, model and registration number (if any) of the original car and of the replacement car.162K(4) [Application]