Taxation Laws Amendment (Car Parking) Act 1992 (237 of 1992)

PART 3   AMENDMENT OF THE INCOME TAX ASSESSMENT ACT 1936

Division 2   Amendments to deny deductions to employees for certain car parking expenses

9.   After section 51AG of the Principal Act the following section is inserted:

No deduction to employee for certain car parking expenses (No deduction)

"51AGA.(1) A deduction is not allowable to an employee under this Act in respect of expenditure to the extent to which it is incurred in respect of the provision of car parking facilities for a car on a day if:

(a) on that day, the employee has a primary place of employment; and

(b) on that day, the car is parked for one or more daylight periods exceeding 4 hours in total at, or in the vicinity of, that primary place of employment; and

(c) the expenditure is in respect of the provision of the parking facilities to which that parking relates; and

(d) on that day, the car was used in connection with travel by the employee between:

(i) the place of residence of the employee; and

(ii) that primary place of employment; and

(e) the provision of parking facilities for the car during the period or periods is not taken, under the regulations, to be excluded from this section; and

(f) the day is on or after 1 July 1993.

(Definitions)

"(2) In this section:

'car' has the same meaning as in the Fringe Benefits Tax Assessment Act 1986;

'daylight period' has the same meaning as in the Fringe Benefits Tax Assessment Act 1986;

'employee' has the same meaning as in the Fringe Benefits Tax Assessment Act 1986;

'place of residence' has the same meaning as in the Fringe Benefits Tax Assessment Act 1986;

'primary place of employment' has the same meaning as in the Fringe Benefits Tax Assessment Act 1986.".