Document ID: chunk:federal_register_of_legislation:C2025C00120:section:65ca:p2
Version: federal_register_of_legislation:C2025C00120
Segment Type: section
Provision Reference: s 65CA (pt 2/3)
Character Range: 327679–330345

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 has not come to an end before the end of a particular year of tax (in this subsection called the current year of tax), the amortised amount, in relation to the current year of tax, of the amortised fringe benefit is the amount calculated in accordance with the formula:

where:
Taxable value is the taxable value, in relation to the benefit year of tax, of the fringe benefit.
Current amortisation period is the whole number of months (or part months) in the current year of tax that are included in the notional amortisation period.
Notional amortisation period is the whole number of months (or part months) that are included in the notional amortisation period.
 (4) If the overall amortisation period comes to an end during a particular year of tax (in this subsection called the current year of tax), the amortised amount, in relation to the current year of tax, of the amortised fringe benefit is the amount calculated in accordance with the formula:

where:
Taxable value is the taxable value, in relation to the benefit year of tax, of the fringe benefit.
Previously amortised amounts is the sum of the amortised amounts, in relation to each year of tax preceding the current year of tax, of the fringe benefit.
 (5) Where the recipients expenditure in relation to an expense payment fringe benefit was incurred before 1 July 1986, paragraph (1)(d) applies in relation to the fringe benefit as if the recipients expenditure had been incurred on 1 July 1986.
 (6) Where the following paragraphs apply in relation to a fringe benefit in relation to an employer in relation to a year of tax:
 (a) the fringe benefit would have been an amortised fringe benefit if the reference in subsection 142(2D) to 5 years were a reference to 7 years;
 (b) the benefit time occurred before 31 August 1988;
the employer is eligible for extended amortisation treatment.
 (7) Where:
 (a) an employer is eligible for extended amortisation treatment; and
 (b) a fringe benefit in relation to the employer in relation to a year of tax would have been an amortised fringe benefit if the reference in subsection 142(2D) to a contractual obligation were a reference to a contractual obligation entered into before the end of the period of 6 months after the commencement of this subsection;
the following provisions have effect:
 (c) a reference in subsection (3) or (4) of this section to the overall amortisation period in relation to