Document ID: chunk:federal_register_of_legislation:C2025C00120:section:58c:p3
Version: federal_register_of_legislation:C2025C00120
Segment Type: section
Provision Reference: s 58C (pt 3/3)
Character Range: 215532–217480

or proposed dwelling;
 (iv) a residual benefit where the recipients benefit is constituted by the act of connecting or re‑connecting a telephone service to the other dwelling or proposed dwelling;
 (v) an expense payment benefit where the recipients expenditure is in respect of the act of re‑connecting gas or electricity to the other dwelling or proposed dwelling;
 (vi) a residual benefit where the recipients benefit is constituted by the act of re‑connecting gas or electricity to the other dwelling or proposed dwelling;
 (f) if subparagraph (e)(iii) or (iv) applies—immediately before the change, a telephone service was provided to the unit of accommodation that was the employee's usual place of residence before the change;
 (g) if subparagraph (e)(i), (iii) or (v) applies—documentary evidence of the recipients expenditure is obtained by the recipient and that documentary evidence, or a copy, is given to the employer before the declaration date; and
 (h) the benefit is not provided under a non‑arm's length arrangement;
the benefit is an exempt benefit in relation to the year of tax.
 (4) An election by an employer under subsection (2) in relation to a year of tax:
 (a) shall be made by notice in writing to the Commissioner; and
 (b) shall be lodged with the Commissioner on or before the declaration date.
 (5) If:
 (a) a benefit is an exempt benefit in relation to a year of tax under subsection (3); and
 (b) paragraph (3)(ca) applied to the employee; and
 (c) the employee or associate does not enter into a contract for the sale of the interest or right in the other dwelling referred to in that paragraph within 2 years after the new employment day;
this Act has effect as if:
 (d) a benefit equivalent to the exempt benefit were provided in respect of the employment of the employee in, or in respect of, the year of tax in which that period of 2 years expired; and
 (e) that equivalent benefit were not an exempt benefit.