Summary
The Federal Government is set to introduce the draft legislation in respect of the Living Away From Home Allowance (LAFHA) changes in the upcoming sitting of the Parliament.
Update
We spoke to Treasury this morning (4 May 2012). Treasury advised that they propose to issue a LAFHA Exposure Draft in May. We are not hopeful that a transitional rule will be introduced as they remain concerned about the loss of revenue.
The proposed Tax Laws Amendment (2012 Measures No 3) Bill 2012 (the Bill), which includes the provisions first proposed by the Consultative Paper released in November 2011will be introduced into the Parliament after the 2012 Federal Budget.
The Federal Government is seeking for passage of this Bill on or prior to 28 June 2012 in time for a 1 July 2012 commencement date.
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