Document ID: chunk:federal_register_of_legislation:C2025C00120:section:65ca:p1
Version: federal_register_of_legislation:C2025C00120
Segment Type: section
Provision Reference: s 65CA (pt 1/3)
Character Range: 325164–327921

65CA  Amortisation of taxable value of fringe benefits relating to remote area home ownership schemes
 (1) Where:
 (a) the recipient of any of the following fringe benefits in relation to an employer in relation to a year of tax (in this section called the benefit year of tax) is an employee of the employer:
 (i) a property fringe benefit where the recipients property is remote area residential property;
 (ii) a property fringe benefit where the recipients property is a remote area residential property option fee;
 (iii) an expense payment fringe benefit where the recipients expenditure is in respect of remote area residential property;
 (b) in the case of a property fringe benefit where the recipients property is remote area residential property—at or before the provision time, the employee entered into a recognised remote area housing obligation restricting the disposal of the estate or interest concerned;
 (c) in the case of an expense payment fringe benefit—at or before the time when the employee acquired the estate or interest concerned, the employee entered into a recognised remote area housing obligation restricting the disposal of the estate or interest concerned; and
 (d) in all cases—the period (in this section called the overall amortisation period) commencing at whichever of the following times is applicable:
 (i) if subparagraph (a)(i) or (ii) applies—the provision time;
 (ii) if subparagraph (a)(iii) applies—the time when the recipients expenditure was incurred;
  (which time is in this section called the benefit time) and ending at the earliest of the following later times:
 (iii) the time when the employee ceases or first ceases to be subject to the recognised remote area housing obligation referred to in paragraph (b) or (c) of this subsection or in paragraph 142(2A)(e), as the case requires;
 (iv) the time when the employee ceases or first ceases to be employed by the employer;
 (v) the time when the employee ceases or first ceases to occupy or use the dwelling concerned as his or her usual place of residence;
 (vi) the time of the death of the employee;
 (vii) the end of the period of 7 years after the benefit time;
  commences and ends in different years of tax;
the fringe benefit is an amortised fringe benefit.
 (2) The notional amortisation period in relation to the amortised fringe benefit is the period commencing at the benefit time and ending at the earlier of the following times:
 (a) the end of the period specified in the contract to which the recognised remote area housing obligation concerned relates, being the period during which the employee is to be subject to that obligation;
 (b) the end of the period of 7 years after the benefit time.
 (3) If the overall amortisation period