FRINGE BENEFITS TAX REGULATIONS 1992 (REPEALED)
For paragraph 5E(3)(i) of the Act, a car benefit is prescribed if:
(a) the benefit:
(i) is a car fringe benefit; or
(ii) would be a car fringe benefit if it were not an exempt benefit; and
(b) the car to which the benefit relates is applied to or available for the private use of more than one employee under subsection 7(1) of the Act.
Example:
An employer makes one car available to 3 employees, for private use, at different times during the year of tax.
8(2)
The benefit is prescribed in relation to:
(a) each employee in relation to which the benefit is provided; and
(b) each year of tax from 1 April 2007.
This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.