The House of Reps Economics Committee will inquire into amendments to the tax treatment of fringe benefits, limited recourse debt and rebates for medical expenses among other changes contained in the Tax Laws Amendment (2012 Measures No 6) Bill 2012. Among other things, the Bill proposes to remove concessional FBT treatment for in-house fringe benefits accessed through salary sacrificing, and to apply an income-based means test to the tax offset for net medical expenses.
Committee chair Julie Owens said the Committee will examine the adequacy of the Bills in achieving their policy objectives and where possible identify any unintended consequences.
Submissions to the inquiry are due by Thursday, 20 December 2012. Further information is on the Committee’s website.
Source: House of Reps Economics Committee media release, 6 December 2012
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