Book Reviews | Gordon Campbell | Scoop News | Wellington Scoop | Community Scoop | Search

 

Further Tax Deductions For Aussie Troops

Minister Announces Further FBT Exemptions for ADF Personnel

A further set of reporting exemptions from Fringe Benefits Tax (FBT) for Australian Defence Force (ADF) personnel was announced today by the Minister Assisting the Minister for Defence, Bruce Scott.

"In recognition of the need for service mobility, and the effect this can have on Defence families, reunion travel for members for dependents, education assistance for school aged children in critical years of schooling, and allowances paid to Defence families with special needs are now all exempt from FBT reporting," Mr Scott said.

"I am also pleased to announce that the element of Overseas Living Allowance that compensates for cost of living differences is also exempt from reporting."

"Funeral costs are not reportable, and the entitlement on marriage breakdown for a spouse to have a removal paid for at Commonwealth expense will be exempt from reporting on the ADF member's group certificate."

"The overall result of the exemptions, when added to the significant number of other allowances that are already exempt or not reportable, is that the FBT reporting legislation will now properly take account of the special status of ADF personnel," Mr Scott said.

Today's announcement follows the Government's decision in August to totally exempt ADF housing assistance from FBT reporting.

Housing assistance is the major component of the amount that would have appeared on individual ADF members' group certificates under the original FBT reporting proposals.

"Following today's announcement, an extensive list of allowances are either not reportable or exempt from FBT," Mr Scott said.

"Those allowances that are reportable are those that are clear personal benefits such as subsidised home loans, private use of official cars and free travel which is not part of reunion travel.

"ADF personnel have the widest and most comprehensive set of exemptions from this FBT reporting legislation in the entire Australian community. This demonstrates the Government's recognition that ADF personnel are required to serve in a demanding and difficult environment."


ENDS

© Scoop Media

 
 
 
World Headlines

 

Gordon Campbell: On The Hong Kong Protest Movement

The pro-democracy protests enjoy huge support among Hong Kong’s youth, partly because the democratic systems currently at risk have only a limited time span. More>>

ALSO:

Pacific Island Forum: Australia v Everyone Else On Climate Action

Traditionally, communiques capture the consensus reached at the meeting. In this case, the division on display between Australia and the Pacific meant the only commitment is to commission yet another report into what action needs to be taken. More>>

ALSO:

For NZ, It Was May 6: Earth Overshoot Day 2019 Is The Earliest Ever

Humanity is currently using nature 1.75 times faster than our planet’s ecosystems can regenerate. This is akin to using 1.75 Earths... More>>

ALSO:

Asylum: More Manus Refugees Fly To US But Hundreds Still In Limbo

“The US deal was never going to provide enough places for the refugees Australia has held on Manus and Nauru. There are over 1800 refugees needing resettlement,” said Ian Rintoul, spokesperson for the Refugee Action Coalition. More>>

ALSO: