The government has called an election and is now in caretaker

Since this website is hosted by the Treasury, information from Portfolio Ministers might not be available here. You can find it on the ministers' party website. These party sites are not funded by the Commonwealth of Australia.

11 May 2004

Increase in Fringe Benefits Tax Exemption Thresholds for Long Service Award Benefits

The Government has tonight announced that it will increase the fringe benefits tax exemption thresholds for long service award benefits.

The current exemption thresholds will be doubled, from $500 to $1,000 for 15 years of service, and from $50 to $100 for each additional year of service.

The increase in the exemption thresholds will ensure that employers who wish to provide long service awards to their long-serving employees will not pay fringe benefits tax on the value of awards below these thresholds.

The increase in the exemption thresholds will apply from 1 April 2005.