The Government has announced further details in relation to the proposed reform of the Living-Away-From-Home (LAFH) rules.
The announcement extends the proposed reforms from temporary residents only to all employees regardless of visa or taxation status.
For employees that qualify for LAFH concessions under the proposed rules, the concessions will only apply for a maximum period of 12 months for any particular work location.
Proposed transitional rules mean that the current LAFH rules will continue to apply until June 30, 2014 to employees who entered into arrangements prior to 7:30pm on May 8, 2012.
The announcement was made by the Federal Treasurer in his budget speech at 7:30pm on May 8, 2012. See our second forthcoming Global Watch for details of other important tax changes.