FRINGE BENEFITS TAX ASSESSMENT ACT 1986

PART XII - INTERPRETATION  

SECTION 162C   162C   HOLDING PERIOD OF CAR  


Unless the contrary intention appears, a reference in this Act to a period in a year of tax during which a person held a car is a reference to the period that:


(a) commences on whichever of the following times is applicable:


(i) if the person held the car at the time of commencement of the year of tax - that time;

(ii) in any other case - the time in the year of tax when the person commenced to hold the car; and


(b) ends at whichever of the following times is applicable:


(i) if the person continued to hold the car until the time of the end of the year of tax - that time;

(ii) in any other case - the time in the year of tax when the person ceased to hold the car.



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