Document ID: chunk:federal_register_of_legislation:C2025C00126:section:7:p63
Version: federal_register_of_legislation:C2025C00126
Segment Type: section
Provision Reference: s 7 (pt 63/63)
Character Range: 398711–400363

section 37CA of the Fringe Benefits Tax Assessment Act 1986; and
 (b) section 51AEB of the *ITAA 1936 were to apply, because of that election, to expenses relating to the acquisitions or importations.
 (2) However, you cannot make the election unless you have a *valid meal entertainment register.

69‑35  Election to use the 50/50 split method for entertainment facilities
  You may elect to have acquisitions or importations treated, for the purposes of this Subdivision, as *non‑deductible expenses because of paragraph 69‑5(3A)(c), to the extent that the acquisitions or importations would be non‑deductible expenses because of that paragraph if:
 (a) an election were in force under section 152B of the Fringe Benefits Tax Assessment Act 1986; and
 (b) section 51AEC of the *ITAA 1936 were to apply, because of that election, to expenses relating to the acquisitions or importations.

69‑40  When elections take effect
 (1) An election under this Subdivision is taken to have effect, or to have had effect, from the start of the tax period specified in the election.
 (2) The tax period may be a future tax period or the current tax period. It cannot be a tax period that has already come to an end.

69‑45  When elections cease to have effect
  If a circumstance specified in the second column of the following table occurs, the election ceases to have effect from the start of the tax period specified in the third column:

When elections cease to have effect
Item                                 Kind of election                          Circumstance                                                                                    Tax period