Document ID: chunk:federal_register_of_legislation:C2004A00644:clause:1_15
Version: federal_register_of_legislation:C2004A00644
Segment Type: clause
Provision Reference: sch 1 cl 15
Character Range: 18649–19803

15  Subsection 59(1)
Repeal the subsection, substitute:

 (1) If:
 (a) residential fuel is for use:
 (i) in connection with the recipients unit of accommodation; and
 (ii) during the subsistence of the recipients overall housing right;
  in relation to a remote area housing benefit, in relation to an employer in relation to a year of tax; and
 (b) any of the following conditions are satisfied:
 (i) the recipients expenditure in relation to an expense payment fringe benefit in relation to the employer in relation to the year of tax or a subsequent year of tax is in respect of the supply of that residential fuel;
 (ii) the recipients property in relation to a property fringe benefit in relation to the employer in relation to the year of tax is that residential fuel;
 (iii) the recipients benefit in relation to a residual fringe benefit in relation to the employer in relation to the year of tax is the benefit of the consumption of that residential fuel;
the amount that, apart from this subsection and section 62, would be the taxable value of the fringe benefit referred to in paragraph (b) in relation to the year of tax is reduced by 50%.