FRINGE BENEFITS TAX ASSESSMENT ACT 1986

PART III - FRINGE BENEFITS  

Division 13 - Miscellaneous exempt benefits  

SECTION 53   MOTOR VEHICLE FRINGE BENEFIT FUEL ETC. TO BE EXEMPT IN CERTAIN CASES  

53(1)   [Benefits provided when car fringe benefit provided]  

For the purposes of this Act:

(a) a car expense payment benefit;

(b) a car property benefit; or

(c) a car residual benefit;

in respect of a car, being a benefit that is attributable to a period when a car fringe benefit was provided, or would but for subsection 8(2) have been provided, in relation to the car, is an exempt benefit.

53(2)   [Application where motor vehicle residual fringe benefit]  

Where the provision or use of a motor vehicle would, but for subsection 47(6) , be a residual fringe benefit in relation to a period in a year of tax, subsection (1) applies in relation to the motor vehicle as if:

(a) the motor vehicle were a car; and

(b) a car fringe benefit were provided during that period in relation to the motor vehicle.

53(3)   [Definitions]  

In this section:

car expense payment benefit
means an expense payment benefit where the recipients expenditure is a car expense;

car property benefit
means a property benefit where, if the recipient had incurred expenditure in respect of the provision of the recipients property, that expenditure would have been a car expense;

car residual benefit
means a residual benefit where, if the recipient had incurred expenditure in respect of the provision of the recipients benefit, that expenditure would have been a car expense.