Abrupt tax shift hitting Australia's new-car dealers hard, critics claim.
Canceled vehicle orders and staff layoffs are hitting a stunned Australian auto industry after the federal government abruptly changes the rules on the fringe-benefits tax. Under the changes imposed by the government of newly elected Prime Minister Kevin Rudd, people who receive a company car as part of a salary package now must use logbooks to document the vehicles' use for both personal and business purposes. Their employers then will have to pay a fringe-benefits tax (FBT) on ...
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