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How will the new Living Away From Home Allowance (LAFHA) changes that apply from 1 October 2012 affect my business and my employees.

Fringe Benefits Tax Living Away From Home Allowance LAFHA
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Jamie Towers
The Australian Federal Government has just passed law changes in Australia which change the mostly tax-free Living Away From Home Allowance (LAFHA) to being in most instances taxable under the Fringe Benefits Tax (FBT) system. FBT will apply to most LAFHA paid to Non residents or Temporary Resident working in Australia. There are limited exemptions for Australian residents who maintain a home within Australia and any employees working on fly-in, fly-out arrangements. The new laws apply from 1 October 2012, although there are some transitional rules.

Refer to the article I wrote on the Hanrick Curran website for further information:

www.hanrickcurran.com.au/news/news_articles/lafha_reforms_passed
Leave a Comment 441 weeks ago

 

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