Not only has novated lease market returned to normal monthly rates now due to Joe Hockey's deficit tax the salary packaging market is set to explode from July 14 to April 15! Could not have worked out better for MMS.
TREASURER Joe Hockey billed the debt levy as a “fair” Budget reform aimed at spreading the deficit repair job evenly, but those set to be hit have already found a way to get around the Government’s quick revenue raiser.
A loophole allows high-income earners targeted by the levy to tweak their incomes so that the debt tariff does not apply.
The extra two per cent tax for those earning more than $180,000 and changes to the FBT (Fringe Benefits Tax) have opened an opportunity to further minimise tax.
Tax experts say it only takes a bit of clever salary packaging to avoid paying the deficit levy for an entire year of the three it is supposed to be in place.
MMS Price at posting:
$11.26 Sentiment: Buy Disclosure: Held
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