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Government Consultation Papers Released

December 06, 2011

Submissions are now open regarding the proposed changes to LAFHA legislation announced by the Australian Government in November, with a consultation paper released by the Hon Bill Shorten MP, Assistant Treasurer and Minister for Financial Services. Submissions close 3 February 2012.

On 29 November 2011, the Government announced reforms to the fringe benefits tax (FBT) treatment of living away from home benefits. 

In line with the Government’s announcement, the Hon Bill Shorten MP, Assistant Treasurer and Minister for Financial Services and Superannuation, has released a consultation paper.

The consultation paper outlines the existing treatment of the living away from home benefits and implementation issues of the reform, including whether there is a need for special transitional arrangements to ensure there are no unintended consequences with the new arrangements.

In the consultation paper, Hon Bill Shorten says the Government has allowed time to undertake consultation with stakeholders before the changes commence. 

"In particular, we are seeking views on transitional and implementation issues, particularly from the community sector, and to identify whether there are any unintended consequences."

Submissions may be lodged electronically (in a Word or RTF format) or by post. All information (including name and address details) contained in submissions will be made available to the public on the Treasury website, unless you indicate that you would like all or part of your submission to remain in confidence. The closing date for submissions is 3 February 2012.

Emails should be sent to: FBT@treasury.gov.au, and mail should be sent to: 

Manager
Philanthropy and Exemptions Unit
Personal and Retirement Income Division
The Treasury
Langton Crescent
PARKES ACT 2600

For full details on submissions, visit www.treasury.gov.au.