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Taxation Laws Amendment (Fbt Cost of Compliance) Bill 1995

Supplementary Explanatory Memorandum

(Circulated by authority of the Treasurer,the Hon Ralph Willis, MP)

General outline and financial impact


Amends item 6 in Schedule 1 to confine the entitlement to a deduction under section 51AEA to employers who have provided meal entertainment fringe benefits.

Financial impact: Nil.

Living-away-from-home benefits

Removes the proposed living-away-from-home provisions contained in Schedule 2.

Financial impact: Nil.

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