Tax - 12/16 - CS Accountants
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Tax Tag

Legislation has been passed that changes the statutory formula for calculating car fringe benefits. The new legislation applies to all car fringe benefits after 7.30pm Australian Eastern Standard Time (AEST) on 10 May 2011, unless there was a pre-existing commitment in place.

The ATO has confirmed that the processing of 2010-11 year income tax returns is proceeding normally and refunds are issuing as expected within the 14 working day service period.