Document ID: chunk:federal_register_of_legislation:C2025C00120:section:60:p1
Version: federal_register_of_legislation:C2025C00120
Segment Type: section
Provision Reference: s 60 (pt 1/3)
Character Range: 280430–282962

60  Reduction of taxable value—remote area housing
 (1) Where:
 (a) the recipient of a loan fringe benefit in relation to an employer in relation to a year of tax is an employee of the employer;
 (b) the loan is a remote area housing loan connected with a dwelling; and
 (c) the recipient occupied or used the dwelling as his or her usual place of residence during a period in the year of tax (in this section referred to as the occupation period) during which the recipient was under an obligation to repay the whole or a part of the loan;
the amount that, but for this subsection, would be the taxable value of the fringe benefit in relation to the year of tax shall be reduced by 50% of so much of that amount as relates to the occupation period.
 (2) Where:
 (a) the recipient of an expense payment fringe benefit in relation to an employer in relation to a year of tax is an employee of the employer;
 (b) the recipients expenditure is in respect of interest in respect of a remote area housing loan connected with a dwelling;
 (c) the recipient occupied or used the dwelling as his or her usual place of residence during a period (in this section referred to as the occupation period) during which the interest accrued; and
 (d) the fringe benefit was not provided under:
 (i) a non‑arm's length arrangement; or
 (ii) an arrangement that was entered into by any of the parties to the arrangement for the purpose, or for purposes that included the purpose, of enabling the employer to obtain the benefit of the application of this section;
the amount that, but for this subsection, would be the taxable value of the fringe benefit in relation to the year of tax shall be reduced by 50% of so much of that amount as relates to the occupation period.
 (2A) Where:
 (a) the recipient of an expense payment fringe benefit in relation to an employer in relation to a year of tax is an employee of the employer;
 (b) the recipients expenditure is in respect of remote area housing rent connected with a unit of accommodation;
 (c) the recipient occupied or used the unit of accommodation as his or her usual place of residence during a period (in this subsection called the occupation period) during which the rent accrued; and
 (d) the fringe benefit was not provided under:
 (i) a non‑arm's length arrangement; or
 (ii) an arrangement that was entered into by any of the parties to the arrangement for the purpose, or for purposes that included the purpose, of enabling the employer to obtain the benefit of the application of this