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READ MOREParliamentary deadlock exacerbates FBT, GST definition anomaly
Disagreement between the houses of parliament over an unrelated amendment will see the definition of a taxi in the Fringe Benefits Tax Act continue to be at odds with the Goods and Services Tax Act.
Treasury Laws Amendment (2019 Measures No. 3) Bill 2019 was passed by the Senate on Friday, bringing consistency across the FBT Act and the GST Act by amending the definition of a taxi to “a motor vehicle used for taxi travel (other than a limousine)”, replacing the current definition of a taxi as “a motor vehicle licensed to operate as a taxi”.
Read more at the Accountants Daily.
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