Document ID: chunk:federal_register_of_legislation:C2025C00120:section:52:p2
Version: federal_register_of_legislation:C2025C00120
Segment Type: section
Provision Reference: s 52 (pt 2/4)
Character Range: 191459–194087

date, a travel diary in relation to the travel undertaken by the recipient to which the fringe benefit relates; and
 (da) where:
 (i) the fringe benefit is a car residual benefit in respect of a car held by the recipient during a period (in this section called the holding period) in the year of tax; and
 (ii) the substantiation rules set out in Division 15 have been complied with in relation to the car in relation to the holding period;
  the following conditions are satisfied:
 (iii) the recipient gives to the employer, before the declaration date, a car substantiation declaration for the car for the year of tax;
 (iv) in a case where the substantiation rules require log book records or odometer records to be maintained by or on behalf of the recipient in relation to the car—the car substantiation declaration is accompanied by a copy of those documents; and
 (e) if:
 (i) paragraph (da) does not apply; and
 (ii) the fringe benefit is a car residual benefit in respect of a car held by the recipient during a period (the holding period) in the year of tax;
  the recipient gives a declaration to the employer, before the declaration date and in a form approved by the Commissioner, that purports to set out:
 (iii) the holding period; and
 (iv) the number of whole business kilometres travelled by the car during the holding period; and
 (v) the number of whole kilometres travelled by the car during the holding period;
the taxable value, but for Division 14, of the residual fringe benefit in relation to the year of tax is the amount calculated in accordance with the formula:

where:
TV is the amount that, but for this subsection and Division 14, would be the taxable value of the residual fringe benefit in relation to the year of tax; and
ND is:
 (f) if neither paragraph (da) nor paragraph (e) applies and paragraph (k) does not apply—the notional deduction; or
 (g) where paragraph (da) applies and paragraph (k) does not apply—whichever of the following amounts is applicable:
 (i) if it would be concluded that the amount of the recipients contribution would have been the same even if the residual fringe benefit were not applied or used in producing assessable income of the recipient—the business use percentage of the amount that, but for this subsection and Division 14, would be the taxable value of the residual fringe benefit in relation to the year of tax;
 (ii) if subparagraph (i) does not apply—the business use percentage of the amount that, but for this subsection and Division 14 and the recipients contribution, would be the taxable value of the residual fringe benefit in relation to the