Document ID: chunk:federal_register_of_legislation:C2007A00079:clause:1_30
Version: federal_register_of_legislation:C2007A00079
Segment Type: clause
Provision Reference: sch 1 cl 30
Character Range: 21388–21896

30  At the end of subsection 16(1)
Add:

Note: A loan benefit that is taken under this subsection to be provided in respect of a year of tax may not be provided as a fringe benefit if:

(a) the loan was made in that year of tax or a previous year of tax; and

(b) a dividend is not taken to be paid under section 109D of the Income Tax Assessment Act 1936 in relation to the loan, because of section 109N of that Act.

See paragraph (s) of the definition of fringe benefit in subsection 136(1) of this Act.