INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART III - LIABILITY TO TAXATION  

Division 3 - Deductions  

Subdivision F - Substantiation of certain expenses of years of income up to and including 1993-94  

SECTION 82KTJ   REPLACEMENT CARS  

82KTJ(1)   [Effect of nomination of replacement car]  

Subject to subsection (3), for the purposes of the application of this Subdivision (other than section 82KW , 82KX or 82KY) to a car expense, where a taxpayer, in the taxpayer's car records for a year of income, 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 year of income:


(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.

82KTJ(2)   [Make, model, registration number of cars]  

A nomination shall specify the make, model and registration number (if any) of the original car and of the replacement car.

82KTJ(3)   [Application re deduction for car expense]  

Subsection (1) does not apply for the purposes of determining the deduction that, apart from this Subdivision, would have been allowable under this Act in respect of a car expense.

82KTJ(4)   [Car predecessor of second car]  

For the purposes of this Subdivision:


(a) a car is a predecessor of a second car if the second car replaced the first-mentioned car for use in the course of producing assessable income of the taxpayer concerned; and


(b) a car is a predecessor of a second car if a third car is a predecessor of the second car and the first-mentioned car is a predecessor of the third car (including a case where the first-mentioned car is a predecessor of the third car by another application or applications of this paragraph).

82KTJ(5)   [Car held pending its replacement]  

For the purposes of this Subdivision, a car shall not be treated as a car held by a taxpayer pending its replacement, for use in the course of producing assessable income of the taxpayer, by another car unless both cars are held at the same time.

82KTJ(6)   [Time original car held: deduction for car expenses]  

For the purposes of subparagraphs 82KUB(a)(ii) and (iii) and (b)(i) and (ii) , where:


(a) at a particular time, a taxpayer ceases to hold a particular car (in this subsection called the original car ); and


(b) after that time, the taxpayer commences to hold another car as a replacement, for use in the course of producing assessable income of the taxpayer, for the original car;

the taxpayer shall be treated as having held the original car until that later time.


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