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FBT changes – the impact on you and your organisation

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HC Online | 17 Jul 2013, 12:04 AM Agree 0
The government announced its immediate cut to fringe benefits tax on car concessions yesterday, and organisations will need to re-think their novating policies and initiatives.
  • Anne Sayles | 18 Jul 2013, 08:52 AM Agree 0
    Cannot believe this decision has been made. Has there been any thought for the follow on that will more than likely add another death blow to the Australian car industry
  • kevin | 18 Jul 2013, 11:47 AM Agree 0
    Suppose Rudd feels free to take such a decision as the treasurer believes that it will only impact those earning $100k plus and perhaps not "working families" the only group the government governs for. Again, like the cattle export debacle, no consulation, no consideration of the flow on affect throughout the automotive industry, finance, leasing etc.

    The only good signal to take from this is that perhaps and election is not too far away and the people can choose their PM.
  • Karen | 18 Jul 2013, 01:00 PM Agree 0
    Labor leave FBT and everything alone and Labor PLEASE LEAVE!

    Krudd all you and your Government (don't blame me I voted Liberal) do is govern for "working families"! Whom do you think employs "working families" certainly not you and your useless "in it for themselves" politicians!
  • Sandra Kwon | 18 Jul 2013, 04:03 PM Agree 0
    Yet again another change snuck through with no consultation or consideration for the impact to business.... we have just lost one of our best staff retention tools.... thanks for nothing Rudd!!!

    Abbott, do us a favour and overturn this as soon as the Liberals win the election. Surely this must happen and the Australian people are not stupid enough to vote Labour in again on the popularity of Rudd alone.
  • carmelina De Lorenzo-crowe | 19 Jul 2013, 09:40 AM Agree 0
    At the risk of being hounded on the www
    Let us not forget the initial concept of offering a company car to employees was a portion of business and private use. Over the years for those of us who have been involved in this area there has been a proliferation of providers and 'dilution' of original intent and many so called company cars never left the home driveway. While the policy change is hasty and poorly conceived it's beginning most probably lays in the thousands of dstudies and ocuments in Treasury on many aspects of FBT concessions. I remind you of the Henry Tax review comments on FBT . Are many of us in the rem bens industry surprised because someone actually decided to tackle this contentious sacred cow called FBT?
  • kevin | 19 Jul 2013, 10:52 AM Agree 0
    carmelina again the outcome justifies the means. Ever wondered why the existing arrangements were introduced. It was in recognition of the extraordinary effort required to maintain the records necessary to satisfy the ATO. The recent introduction of the $18200 tax threshold was introduced so as 1 million taxpayers did not need to lodge a tax return, which must have added significant productivity benefits to the ATO. Now in total reverse the ATO is imposing significant costs on business. But more importantly the flow on effect to jobs and business cannot be ignored. How one is able to plan for business and ones own life given the ever increasing regulation and constant change? Probably the only light at the end of the tunnel (besides the election) is that the "middle class" now has virtually nothing more to give up. So when that happens get ready for an increase in the GST and that will impact even working families. Welcome to Rudd's world.
  • Joshua Jackson | 19 Jul 2013, 12:46 PM Agree 0
    It may just change the types of vehicles people use under these arrangements, instead of paying fbt on a car there are exemptions for utes if the load carrying capacity is greater than the passenger weight, this applies to dual cab utes also.
  • Michael | 22 Jul 2013, 04:27 PM Agree 0
    It's a significant real wage decrease for me and probably many others. One that will unlikely be compensated by replacing (not removing) the Carbon Tax. Make's my vote an easy choice.
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