LAHFA reforms deferred to October 2012

June 2012

The Assistant Treasurer, David Bradbury, has announced that LAFHA reforms will be deferred until 1 October 2012. The reforms were announced as part of the Mid-Year Economic and Fiscal Outlook in November, with additional reforms announced as part of the Federal Budget in May. The reforms were due to apply from 1 July.
 
The reforms have been included in a Bill put before Parliament yesterday, which includes other improvements to Australian Tax laws.

We will of course keep you posted as more information becomes available. In the meantime, contact Matt Zhou if you want to understand more about how the LAFHA reforms may impact you or your workforce.

Want to keep up to date with tax news for small business? Follow batescosgraveCA on Linkedin, Google+ or Twitter

Last updated June 2012. This article is provided for information purposes only and should not be used in place of advice from your accountant. Please contact us on 02 9957 4033 to discuss your specific circumstances.