Temporary Budget Repair Levy may impact mobile employees and their employers

Global Watch ()
A suite of Bills, including the Tax Laws Amendment (Temporary Budget Repair Levy) Bill 2014 were passed by the Senate on June 17, 2014 and received Royal Assent on June 25, 2014. This legislation is intended to implement the 2014-15 Federal Budget measure ‘Temporary Budget Repair Levy on high-income earning individuals effective from July 1, 2014 to June 30, 2017, and also the fringe benefits tax increase effective from April 1, 2015 to March 31, 2017. Global mobility programs should evaluate how this levy and other tax rate increases will impact their mobility program costs.