FRINGE BENEFITS TAX ASSESSMENT ACT 1986

PART XII - INTERPRETATION  

SECTION 162H   APPLICABLE LOG BOOK PERIOD  

162H(1)   [Car fringe benefit]  

For the purposes of the application of section 10 in relation to a car fringe benefit in relation to an employer in relation to a car while it was held by a particular person during a particular period (in this subsection called the ``holding period'' ) starting or ending in a year of tax, a reference to the applicable log book period is a reference to:


(a) if the holding period is a period of less than 12 weeks - the holding period; or


(b) in any other case - a continuous period of not less than 12 weeks that begins and ends during the holding period.

162H(2)   [Benefit relating to employee's own car]  

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, as the case requires, in relation to an employer in relation to a car held by the recipient of the fringe benefit during a particular period (in this subsection called the ``holding period'' ) starting or ending in a year of tax, a reference to the applicable log book period is a reference to:


(a) if the holding period is a period of less than 12 weeks - the holding period; or


(b) in any other case - a continuous period of not less than 12 weeks that begins and ends during the holding period.

162H(3)   [Period specified in log book records]  

The applicable log book period must be specified in the log book records for the period at, or as soon as possible after, the end of the period.


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