Commonwealth Consolidated Acts

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FRINGE BENEFITS TAX ASSESSMENT ACT 1986 - SECT 149

Provision of benefit during a period

  (1)   For the purposes of this Act, a benefit shall be taken to be provided during a period if, and only if, the benefit:

  (a)   is provided, or subsists, during a period of more than 1 day; and

  (b)   is not deemed by a provision of this Act to be provided at a particular time or on a particular day.

  (2)   For the purposes of subsection   (1), but without limiting the generality of that subsection, a benefit constituted by the subsistence of a lease or licence in respect of property, or a benefit in respect of a loan, shall be taken to be provided during the period when the lease or licence subsists or while a person is under an obligation to repay the whole or any part of the loan, as the case may be.


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