Bankruptcy Regulations 1996

SCHEDULE 4 - MODIFICATIONS OF THE FRINGE BENEFITS TAX ASSESSMENT ACT 1986  

(regulation 6.12 )

1   Section 7 (Car benefits)  

1.1    
Subsections 7(1), (2), (3) and (4):

Omit the subsections, substitute:

' (1)	Where, at any time on a day, a person:
	(a)	applies a car held by the person; or
	(b)	makes a car held by the person available;
for the private use of a bankrupt, the car is taken, for the purposes of this Act, to constitute a benefit provided on that day by the first-mentioned person to the bankrupt. ' .