The Federal Government delivered its 2020-21 Budget on Tuesday, October 6.
As part of the government’s economic recovery plan, Federal Treasurer Josh Frydenberg announced that the income tax rates scheduled to commence on 1 July 2022, have been brought forward to commence from 1 July 2020.
The move, once legislated, will increase the disposable income of millions of Australian workers.
There were no other major announcements relating to existing salary packaging or novated leasing provisions for RemServ customers.
What happens next?
There is nothing you need to do. You can continue to package as normal.
We’re here to help
If you have any questions about your salary packaging or novated leasing arrangements, please contact us.