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• nThe rules for individuals claiming car expensendeductions have changed. As a result, if employers reimburse expenses relatingnto an employee’s use of their own car, only two methods are available forncalculating the taxable value of this fringe benefit (when employers apply then”otherwise deductible rule”).
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• nA separate gross-up cap of $5,000 has beennintroduced for salary sacrificed meal entertainment and entertainment facilitynleasing expenses for certain employees of not-for-profit organisations.nAffected individuals may want to discuss it with their employers.
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Important: Clients should not act solely on the basis of the material contained in Update. Items herein are general comments only and do not constitute or convey advice per se. Also, changes in legislation may occur quickly. We therefore recommend that our formal advice be sought before acting in any of the areas. This update is issued as a helpful guide to clients and for their private information.
