Business Services Industry
Accountants urge fringe benefits reform.
Australasian Business Intelligence, March, 2006
Byline: Elizabeth Colman
Mar 16, 2006 (The Australian - ABIX via COMTEX) -- An Australian accounting body has called for the reform of fringe benefits tax (FBT).
Neil Warren, of the University of New South Wales, examined FBT for the Institute of Chartered Accountants in Australia. His paper found that FBT was complex and inefficient. It suggested a simplification of the system, to make the 48.5 per cent FBT rate the same as income tax rates and let it
be paid by employees rather than employers. The paper proposed that the tax-free threshold for FBT be raised to $A200 and FBT
breaks on cars be dropped.
Publication Date: 17 March 2006
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