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http://law.ato.gov.au/atolaw/vie ... ;PiT=99991231235958
Full novations
6. In full novations the lease obligations are transferred to the employer. Accordingly, there are no income tax consequences for the employee during the period when the employer makes the lease payments.
Partial Novations
17. A deduction is not available to the employee under section 8-1 of the Income Tax Assessment Act 1997 (ITAA 1997) in non-luxury motor vehicle partial novations where the lease payments are contractually made by the employer directly to the finance provider. In these circumstances, the employee no longer has the contractual obligation for the lease payment liabilities and does not make the payments.
Others:
20. A deduction is not available to the employee in a luxury motor vehicle partial novation. An employee, as sub-lessee, can claim a deduction only to the extent to which a deduction is allowable to the lessee under other provisions of the Act.
40. Section 8-1 of the ITAA 1997 (subsection 51(1) of the ITAA 1936) does not allow a deduction to the employee for lease payments made by the employer to the finance company in a partial novation, as no expense has been incurred or paid by the employee. In these novations, the employer enters into a novation where it makes the lease payments direct to the finance provider. The employee no longer has the legal obligation to make the lease payments. Likewise, as the expense is not incurred by the employee, section 51AF of the ITAA 1936 has no application.
Is that the reason why the employee could not claim tax deduction for their mv expenses in their tax return because of the obligations and the title of the car were not owned by employees?
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