Div 40 substituted for Divs 40, 41 and 42 by No 76 of 2001.
Subdiv 40-C inserted by No 76 of 2001.
SECTION 40-225 Adjustment: acquiring a car at a discount
(a) it is reasonable to conclude that any portion (the discount portion) of the discount is referable to you or another entity selling another asset for less than its *market value; and
(b) you, or another entity, has deducted or can deduct an amount for the other asset for any income year; and
(c) the sum of the cost of the car and the discount portion exceeds the *car limit for the *financial year in which you first use the car for any purpose.
S 40-225 inserted by No 76 of 2001.