IT 2509 - Income tax : income tax and fringe benefits tax consequences of an employee leasing a car to an employer which is subsequently provided back to the employee

PREAMBLE Recently, articles have appeared in newspapers and business magazines describing what has been called "a company car plan" to beat fringe benefits tax. The plan is centred on a prestige car being provided for the private use of an employee. The provision of a car is a component of the employee's overall remuneration package...