Tax and Superannuation Laws Amendment (2015 Measures No. 5) Act 2015 (162 of 2015)

Schedule 1   Modernising the car expense deduction rules

Part 2   Other amendments

Fringe Benefits Tax Assessment Act 1986

20   Subsection 136(1) (definition of basic car rate)

Repeal the definition, substitute:

basic car rate , for a car for a year of tax ending on 31 March in a year, means the rate determined under subsection 28-25(4) of the Income Tax Assessment Act 1997 for the car for the year of income ending on 30 June in that year.