FRINGE BENEFITS TAX REGULATIONS 1992 [ REPEALED]

REGULATION 8   EXCLUDED FRINGE BENEFIT - POOLED OR SHARED CARS  

8(1)  
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.




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