Changes to FBT for vehicles

[cs123]

I see that there are changes afoot for the FBT that you can claim for vehicles.

I'd say this will be a big blow to Novated Leasing

http://www.theaustralian.com.au/nati...-1226680051046

In the biggest surprise of the savings package, Treasurer Chris Bowen revealed a $1.8 billion cut to fringe benefits concessions for car owners, hitting 320,000 taxpayers who claim the benefits for the driving they do for their employment.

Mr Bowen insisted the change would not harm about 3.6 million other taxpayers who claim the concessions for their work-related driving, but said the advent of new technology meant the old way of claiming the tax could be replaced.