Peter Costello

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FBT Exemption for Remote Area Housing to Help Regional Australia

NO.079

FBT EXEMPTION FOR REMOTE AREA HOUSING TO HELP REGIONAL AUSTRALIA

The Government’s tax reform package A New Tax System announced that the fringe benefits tax exemption for remote area housing provided by primary producers would be extended to mining industry employers from 1 April 2000.

The Government has decided to broaden this exemption to all employers who provide remote area housing fringe benefits to their employees. This measure will provide assistance to small businesses, remote area communities and State and local governments and highlights the Government’s commitment to the promotion of development in rural and regional Australia.

Extension of the exemption will provide a $15 million boost to employers in Australia’s remote areas, and assist in job creation.

The measure will take effect from 1 April 2000.

25 November 1999

Contact: Niki Savva (02) 6277 7340

25 Nov 1999

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