Document ID: chunk:federal_register_of_legislation:C2025C00120:section:61c:p2
Version: federal_register_of_legislation:C2025C00120
Segment Type: section
Provision Reference: s 61C (pt 2/3)
Character Range: 306112–308747

a long‑term place of residence for the employee; and
 (e) the fringe benefit is not provided under a non‑arm's length arrangement;
the following provisions have effect.
 (2) Where:
 (a) paragraph (1)(c) applies; and
 (b) a percentage (in this subsection called the attributable percentage) of the taxable value of the fringe benefit in relation to the year of tax is attributable to the subsistence of the lease, licence or housing right referred to in paragraph (1)(a) during the whole or a part of the period of 21 days that ended on the day on which the employee commenced to perform the duties of that employment at the employee's new place of employment;
the amount that, but for this subsection and section 62, would be the taxable value of the fringe benefit in relation to the year of tax shall be reduced by the attributable percentage.
 (3) Where:
 (a) paragraph (1)(d) applies;
 (b) any of the following subparagraphs applies:
 (ii) the employee, not later than 4 months after the relocation day, pursuant to a contract entered into by the employee or an associate of the employee, commences or commenced to occupy or use a unit of accommodation intended by the employee or associate, as the case may be, to provide a long‑term place of residence for the employee;
 (iii) the employee gives to the employer, before the declaration date, a declaration in a form approved by the Commissioner, in respect of the application of this section in relation to the employee; and
 (c) a percentage (in this subsection called the attributable percentage) of the taxable value of the fringe benefit in relation to the year of tax is attributable to the subsistence of the lease, licence or housing right referred to in paragraph (1)(a) during the whole or a part of the period commencing 7 days before the relocation day and ending on the earlier or earliest of whichever of the following days is applicable:
 (i) if, during the initial accommodation search period, a contract is or was entered into by the employee or an associate of the employee for the acquisition of, or of the right to occupy or use, a unit of accommodation intended by the employee or associate to provide a long‑term place of residence for the employee—the day on which the employee could reasonably be or have been expected to commence, or to have commenced, to occupy or use that unit of accommodation pursuant to that contract;
 (ii) if the initial accommodation search period ends or ended before any contract of a kind referred to in subparagraph (i) of this paragraph is or was entered into by the employee or an associate—the day on which that period ends