Document ID: chunk:federal_register_of_legislation:C2015A00162:clause:1_45
Version: federal_register_of_legislation:C2015A00162
Segment Type: clause
Provision Reference: sch 1 cl 45
Character Range: 12776–13618

45  Application of amendments
(1) Subject to subitems (2) and (3), the amendments made by this Schedule apply in relation to the 2015‑16 income year and later income years.
(2) The amendments of the Fringe Benefits Tax Assessment Act 1986 made by this Schedule apply in relation to the 2016‑17 FBT year and later FBT years.
(3) Despite the amendments of section 40‑370 of the Income Tax Assessment Act 1997 made by this Schedule, that section continues to apply, in relation to a balancing adjustment event, as if those amendments had not been made if:
 (a) that balancing adjustment event occurs at or after the start of the 2015‑16 income year for a car you held; and
 (b) you chose the "12% of original value" method in former Subdivision 28‑D of that Act for deducting your car expenses for the car for one or more earlier income years.