Consultation
Fringe Benefits Tax (FBT) Reform living-away-from-home benefits
Name
Mr JAMIE MCKEEN
Organisation
HAMILTON JAMES & BRUCE
Email
JMCKEEN@HJB.COM.AU
Are you submitting on behalf of your Company
No
Do you want your submission to be confidential
No
Accessibility Statement
Yes
Submission files
Support files
Submission text
Under the proposed LAFHA reforms, I believe that without a reasonable transition rule for all 457 holders, it is unethical and not fair. The majority of 457 holders are currently in a binding tenancy agreements on the basis of the LAFHE component and without it, significant reductions in take home pay mean disposable income and therefore ability to pay rent etc in one of the most expensive places to live in the world is a growing concern. 

The knock on affect and subsequent wider damage to the Australian market is being undervalued. At the very least, the government should allow time for 457 visa holders to make necessary adjustments on living arrangements and the associated costs. A 1 year transitional rule would suffice this reasonable request at the very least.