Budget, Telstra, leadership – Doorstop Interview, Ministerial Entrance, Parliament House
May 10, 2004Budget – Interview with Ross Stevenson & John Burns, 3AW
May 12, 2004
NO.034
INCREASE IN FRINGE BENEFITS TAX EXEMPTION THRESHOLDS FOR LONG SERVICE AWARD
BENEFITS
The Government has tonight announced that it will increase the fringe benefits tax exemption thresholds for long service award benefits.
The current exemption thresholds will be doubled, from $500 to $1,000 for 15 years of service, and from $50 to $100 for each additional year of service.
The increase in the exemption thresholds will ensure that employers who wish to provide long service awards to their long-serving employees will not pay fringe benefits tax on the value of awards below these thresholds.
The increase in the exemption thresholds will apply from 1 April 2005.
CANBERRA
11 May 2004
Contact: David Alexander
02 6277 7340