The Coalition has on Fri 19.7.2013, indicated that it does support the Government’s proposed FBT changes concerning company cars and will not implement them if elected. Shadow Treasurer Joe Hockey said the Government’s announced FBT changes “fly in the face” of the Henry Review which recommended in 2009 that: “The current formula for valuing car fringe benefits should be replaced with a single statutory rate of 20%, regardless of the kilometres travelled.”
It should also be noted that a Fact Sheet and Q&A on the proposed changes are available on the Treasury website.
[LTN 138, 19/7/13]