Monthly Archives: July 2013

22 Jul 2013

Government changes to FBT legislation

Government changes to FBT legislation

On 16 July the Federal Government announced a proposed change to FBT (fringe benefits tax) legislation. If passed by parliament, these changes will result in the removal of the tax concession for personal use of a novated lease vehicle.   Is the legislation in place now? No, the changes are simply proposed. The federal opposition does not support these changes and if elected, will not proceed with them. What will happen to my novated lease? If the proposed changes are passed as legislation, the outcome will depend on the start date of your lease. Leases entered before 17 July 2013: Read More