House of Representatives
Taxation Laws Amendment (Fringe Benefits and Substantiation) Bill 1987
Taxation Laws Amendment (Fringe Benefits and Substantiation) Act 1987
Explanatory Memorandum PART A
(Circulated by authority of the Treasurer, the Hon. P.J. Keating, M.P.)FINANCIAL IMPACT
The effect on revenue of these measures, together with the revised log book rules relating to income tax deductions for car expenses that were enacted earlier this year, are estimated to reduce the full year revenue yield of the fringe benefits tax and income tax substantiation rules by $75m.
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