Document ID: chunk:federal_register_of_legislation:C2025C00120:section:162c
Version: federal_register_of_legislation:C2025C00120
Segment Type: section
Provision Reference: s 162C
Character Range: 618864–619564

162C  Holding period of car
  Unless the contrary intention appears, a reference in this Act to a period in a year of tax during which a person held a car is a reference to the period that:
 (a) commences on whichever of the following times is applicable:
 (i) if the person held the car at the time of commencement of the year of tax—that time;
 (ii) in any other case—the time in the year of tax when the person commenced to hold the car; and
 (b) ends at whichever of the following times is applicable:
 (i) if the person continued to hold the car until the time of the end of the year of tax—that time;
 (ii) in any other case—the time in the year of tax when the person ceased to hold the car.