Changes to FBT Exempt Benefits

>It was announced as part of the federal budget that there will be changes to some FBT exempt salary packaging benefits currently available. These changes are due to take effect on the 1st of April 2016, assuming they are passed into law.

The proposed changes include the introduction of a $2,550 net annual cap ($5,000 grossed-up) on meal entertainment and accommodation & venue hire packaging, where currently these are uncapped. More details of all exempt benefits to be subject to this cap will be known once the legislation is introduced.

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