The Rudd Government will move urgent amendments in the Senate this week to protect employees in the charitable and not-for-profit sectors from losing up to $100 a fortnight because of the previous government’s changes to fringe benefit tax arrangements due to come into effect on 1 July 2008.
The Government’s amendments will restore the use of the net reportable fringe benefit in income definitions for Family Assistance, ensuring that staff in not-for-profit organisations will not suffer a loss of family tax or child care benefits after 1 July 2008 if their circumstances have not otherwise changed. The measures had enormous potential impact on the not-for-profit sector as many not-for-profit organisations compensate for lower wages by providing salary packages boosted by fringe benefits.
Further information available from the Press Release on Treasurer Wayne Swan’s website.
Jun. 23, 2008
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