FRINGE BENEFITS TAX ASSESSMENT ACT 1986

PART XII - INTERPRETATION  

SECTION 149   PROVISION OF BENEFIT DURING A PERIOD  

149(1)   [Provision for 1 day]  

For the purposes of this Act, a benefit shall be taken to be provided during a period if, and only if, the benefit:


(a) is provided, or subsists, during a period of more than 1 day; and


(b) is not deemed by a provision of this Act to be provided at a particular time or on a particular day.

149(2)   [Subsistence of lease, licence or loan]  

For the purposes of subsection (1), but without limiting the generality of that subsection, a benefit constituted by the subsistence of a lease or licence in respect of property, or a benefit in respect of a loan, shall be taken to be provided during the period when the lease or licence subsists or while a person is under an obligation to repay the whole or any part of the loan, as the case may be.




This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.