Exposure draft released: Extension of FBT exemption for fly-in fly-out arrangements
01 Mar 2011
The Treasury has released for public consultation an exposure draft of legislation that will extend the fringe benefits tax exemption for Australian residents working in remote locations on a fly-in fly-out basis to Australian residents working in similar remote locations overseas.
The new rules will apply to fringe benefits provided after 1 July 2009, when Australian residents working in remote areas overseas potentially became assessable on their foreign employment income.
The closing date for submissions is Monday, 28 March 2011.