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08 May 13 Salary sacrificed 'in-house' fringe benefits administrative treatment

On 22 October 2012, as part of the Mid-Year Economic and Fiscal Outlook 2012-13, the government announced reforms to remove the concessional fringe benefits tax (FBT) treatment for in-house fringe benefits accessed through a salary packaging arrangement.

The proposed reforms will apply to in-house benefits provided under salary packaging arrangements made on or after 22 October 2012, and from 1 April 2014 for in-house benefits provided under salary packaging arrangements made before 22 October 2012.

Tax Laws Amendment (2012 Measures No 6) Bill 2012 and Explanatory memorandum was tabled in Parliament on 29 November 2012. The Bill is currently before the Senate.

The ATO has now published the administrative treatment that it will apply pending the enactment of the changes.

 


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