Commonwealth Consolidated Acts

FRINGE BENEFITS TAX ASSESSMENT ACT 1986 - SECT 10A

    Where one or more car fringe benefits in relation to an employer in relation to a year of tax relate to a car while it was held by a particular person (in this section called the provider ) during a particular period (in this section called the holding period ) in a year of tax that is a log book year of tax of the employer in relation to the car, the employer is entitled to a reduction in the operating cost of the car on account of business journeys undertaken in the car during the holding period if, and only if:

  (a)   log book records and odometer records are maintained by or on behalf of the provider for an applicable log book period in relation to the car; and

  (b)   odometer records are maintained by or on behalf of the provider for the holding period; and

  (c)   if the provider is not the employer--those log book records and odometer records are given to the employer before the declaration date; and

  (d)   the employer specifies the employer's estimate of the number of business kilometres travelled by the car during the holding period; and

  (e)   the employer specifies a percentage as the business use percentage applicable to the car in relation to the provider for the holding period.