From the desk of Christopher Emmanuel
In July 2013, the Labor government announced that they will scrapped the statutory method for car fringe benefits for most of the category.
This has caused trauma in the motor vehicle industry. Lots of novated lease company have to downsized their employees because suddenly lots of customers cancel their plan to provide this benefits for their employees and waiting to see whether this is going to pass to be legislated.
Fortunately, the Labor government did not get re-elected and the Coalition government promise to cancel the plan of scraping the statutory method.
We’ll have to see yet whether Tony Abbott’s government will keep their promise or not.
Accounting Entrepreneur, Mentor, Author, Speaker