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FRINGE BENEFITS TAX ASSESSMENT ACT 1986 - SECT 162H

Applicable log book period

             (1)  For the purposes of the application of section 10 in relation to a car fringe benefit in relation to an employer in relation to a car while it was held by a particular person during a particular period (in this subsection called the holding period ) starting or ending in a year of tax, a reference to the applicable log book period is a reference to:

                     (a)  if the holding period is a period of less than 12 weeks--the holding period; or

                     (b)  in any other case--a continuous period of not less than 12 weeks that begins and ends during the holding period.

             (2)  For the purposes of the application of sections 19, 24, 44 and 52 in relation to a loan fringe benefit, expense payment fringe benefit, property fringe benefit or residual fringe benefit, as the case requires, in relation to an employer in relation to a car held by the recipient of the fringe benefit during a particular period (in this subsection called the holding period ) starting or ending in a year of tax, a reference to the applicable log book period is a reference to:

                     (a)  if the holding period is a period of less than 12 weeks--the holding period; or

                     (b)  in any other case--a continuous period of not less than 12 weeks that begins and ends during the holding period.

             (3)  The applicable log book period must be specified in the log book records for the period at, or as soon as possible after, the end of the period.



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