A salary packaging firm says Kevin Rudd’s change to the fringe benefit tax (FBT) deductions for vehicles means it will probably have to make 100 staff redundant by the end of the week.
According to BRW, Selectus managing director Paul King also thinks the change — which removes tax-breaks for vehicle expense — will mean there will be 2000 people from his industry out of a job by the end of this month.
“The only way it can be avoided is if there is an indication that this proposal will move into a phase of consultation and there’s a stay of the changes,” King told BRW.
Along with several other measures, the removal of the FBT will help fund an accelerated move to a floating price for carbon, which Rudd has labelled as a scrapping of Labor Party’s controversial carbon tax.
Read more at BRW.
Now read: KEVIN RUDD AXED THE CARBON TAX: Here Is What You Need To Know
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