Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) This section has effect for the purposes of the application of sections 19, 24, 44 and 52 in relation to a loan fringe benefit, expense payment fringe benefit, property fringe benefit or residual fringe benefit, in relation to an employer in relation to a year of tax (in this section called the current year of tax ) or a subsequent year of tax.
(2) Where the employer nominates a particular car (in this section called the replacement car ) as having replaced another car (in this section called the original car ) with effect from a specified date in the current year of tax:
(a) the original car shall be treated, with effect from that date, as a different car; and
(b) the replacement car shall be treated, with effect from that date, as the same car as the original car.
(2A) A nomination shall be made in writing on or before the declaration date for the current year of tax.
(3) A nomination shall specify the make, model and registration
number (if any) of the original car and of the replacement car.