FRINGE BENEFITS TAX ASSESSMENT ACT 1986
This section has effect for the purposes of the application of sections 19 , 24 , 44 and 52 in relation to a loan fringe benefit, expense payment fringe benefit, property fringe benefit or residual fringe benefit, in relation to an employer in relation to a year of tax (in this section called the ``current year of tax'' ) or a subsequent year of tax.162L(2) [Nomination of replacement car to replace original car]
Where the employer 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 current year of tax:
(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.
A nomination shall be made in writing on or before the declaration date for the current year of tax.
A nomination shall specify the make, model and registration number (if any) of the original car and of the replacement car.