Fringe Benefits Tax Assessment Act 1986

PART III - FRINGE BENEFITS  

Division 2 - Car fringe benefits  

Subdivision B - Taxable value of car fringe benefits  

SECTION 10A  

10A   NO REDUCTION OF OPERATING COST IN A LOG BOOK YEAR OF TAX UNLESS LOG BOOK RECORDS AND ODOMETER RECORDS ARE MAINTAINED  

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.