Tax Laws Amendment (2011 Measures No. 5) Bill 2011 (the Bill), which details changes to the statutory formula method in calculating the taxable value of car fringe benefits, passed all stages of parliament without further amendment and received Royal Assent on 29 June 2011 .

The Bill was previously referred to the Senate Economics Legislation Committee for further scrutiny.

For further details on changes to the valuation of car fringe benefits provided under the statutory formula method please refer to the following articles:

“BN – Car Fringe Benefits Reforms”

“Update on proposed FBT measures”.

“FBT Overhaul for Cars”

Questions

Please contact Michael van Schaik, Associate Director, Employment & Remuneration Services.

Phone: +61 (0) 3 8635 1835

Email: mvanschaik@moorestephens.com.au

Authors: Michael van Schaik and Peejade Cheng


Contact

Michael van Schaik
T  +61 3 8635 1800
mvanschaik@moorestephens.com.au

www.moorestephens.com.au