Changes to Fringe Benefits
On 1 July 2008, changes are being made to the definition of adjusted taxable income which is used to determine the amount of family assistance to be paid. One of these changes was to use the gross value of fringe benefits instead of the net value.
The Government announced on 19 June 2008 that it would restore the use of the net value of fringe benefits in the income definition for family assistance from 1 July 2008. Legislation to support this change has been passed by the Parliament.
The other change to the income definition for family assistance concerning the treatment of foreign income will proceed as planned.
Families should contact the Family Assistance Office if they have any queries regarding these matters.
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