2012 Federal budget
5/28/2012 3:18:00 PM
The Federal Government released its latest budget on Tuesday 8 May 2012.
RemServ's tax specialists have reviewed the budget papers to provide you with useful information about the changes. Click here to download this information.
Some changes apply to the following salary packaging benefits:
- Living Away From Home Allowance (LAFHA)
- additional superannuation contributions.
Please note, there are no new announcements related to novated leasing. Transitional arrangements announced in last year's budget leading to a flat statutory rate of 20% by 2014 continue to apply to salary packaging vehicles.
The Federal Government has also applied changes to Personal Tax Rates effective as of 1 July 2012.
Please take a moment to read more about these changes and what this could mean for you.
Download the 2012 RemServ Budget Update