Commonwealth Consolidated Acts

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FRINGE BENEFITS TAX ASSESSMENT ACT 1986 - SECT 162C

Holding period of car

    Unless the contrary intention appears, a reference in this Act to a period in a year of tax during which a person held a car is a reference to the period that:

  (a)   commences on whichever of the following times is applicable:

  (i)   if the person held the car at the time of commencement of the year of tax--that time;

  (ii)   in any other case--the time in the year of tax when the person commenced to hold the car; and

  (b)   ends at whichever of the following times is applicable:

  (i)   if the person continued to hold the car until the time of the end of the year of tax--that time;

  (ii)   in any other case--the time in the year of tax when the person ceased to hold the car.



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