FBT news not good.

[Hutch Addicted PP Member Find all posts View Profile Close Hutch]

http://news.drive.com.au/drive/motor...717-2q48v.html

Hutch- Prado 2012 petrol with the TJM Catologue.

[Andosan Junior Member Find all posts View Profile Close Andosan]

Bugger, I was lining myself up to get a new Prado in two month's time on a novated lease.

[letsgoplaces Advanced Member Find all posts View Profile Close letsgoplaces]

I guess I've got more time to get used to it... we aren't upgrading until 2015 when the better half goes back to her normal job

[Andosan Junior Member Find all posts View Profile Close Andosan]

Be interesting to see what the real effect is. Paying 20% FBT vs full marginal rate on a portion of the lease payments is part of the value of novated leasing, but not the only one. You also get fleet discount on the vehicle purchase, and the amount financed is GST free.

[D4D Addicted PP Member Find all posts View Profile Close D4D]

Don't blame me I didn't vote for them!

[mjrandom Out of control poster! Find all posts View Profile Close mjrandom]

Depends on whether Krud gets back in doesn't it? So you know what to do. There was also some discussion on the election thread.

[UncySpam Junior Member Find all posts View Profile Close UncySpam]

the changes came into effect on the 16th of this month, so whether or not he gets voted back in is irrelevant to this change - your only hope is that the Mad Monk offers to repeal it if he gets in, which I think is probably unlikely...

[cbm8880 Senior Member Find all posts View Profile Close cbm8880]

If you are currently on a lease and need to restructure for ANY reason (accessories, lease length, kms, number of tires, another years rego etc etc etc) consider it very carefully. This doesn't mean it is not worth getting that suspension fitted, it just means it may be financially worth it to retain the risk yourself.

Your current lease will not be affected unless it is revised.

As for those about to start a new lease... I feel for you. We really need to do it properly this time and vote the pr1(k out!

[sandman Member Find all posts View Profile Close sandman]

He's going after those "super wealthy bastards" that labor always talks about.....I noted last night that shares in "Leasing Companies" took a 15% hit. Seriously, these a$$hol3s need to spend 10 years in opposition, give them some time to think about it....

[mjrandom Out of control poster! Find all posts View Profile Close mjrandom]

The change is not legislation yet. So unless parliament resumes and the legislation is passed (which it will be because the greens support anything that they see kicks the top end of town) then there won't be a need to repeal anything unless Tin Tin wins the election.

It's interesting about all the comments saying that the proposed change is to make it fairer and it will only hit the big dollar earners. I know of several families who are far from high earners that have leased a new vehicle for mum and the kids because they couldn't otherwise afford it. So what this would do is pust the average age of cars on the road back up to the levels of years ago. So safety and efficiency suffer as does that particular segment of the finance industry and the car makers/sellers.

The point I tried to make in the other thread is that this change will not reap in more FBT dollars but in all liklihood reduce the overall revenue and the thoguht that it will increase revenues by $1.8B is ludicrous.

[D4D Addicted PP Member Find all posts View Profile Close D4D]

I noted last night that shares in "Leasing Companies" took a 15% hit.

http://www.news.com.au/national-news...-1226680971148

Other leasing firms, including Australia's largest, the McMillan Shakespeare Group, which manages more than 80,000 vehicles for government and business fleets, is also understood to have temporarily stopped deliveries after it suspended trading on the Australian Stock Exchange in the wake of the FBT changes.

[Bazza Senior Member Find all posts View Profile Close Bazza]

I have a fully maintained novated lease with SG Fleet. They are also concerned with this proposal as it will probably make novated leasing not viable in a lot of cases. Although, apparently "high milage" business use novated leases may not experience the same impact. My lease is concidered for business use as I drive it to and from work and I am on 24hr call.
I guess we'll find out soon enough as I to were planning on a new lease soon.
Bazza

[mjrandom Out of control poster! Find all posts View Profile Close mjrandom]

Bazza under the operational method to and from work doesn't count as buiness use. There are ways around that particularly if you work 'from home' and visit one or two work places. Just as it is possible to be creative with the log book should that be your bent.

[Bazza Senior Member Find all posts View Profile Close Bazza]

Bazza under the operational method to and from work doesn't count as buiness use. There are ways around that particularly if you work 'from home' and visit one or two work places. Just as it is possible to be creative with the log book should that be your bent.

Under my current lease agreement ( and four previous leases ) it does. As I am on emergency call 24x7 the vehicle is classed as business use, and I have never had to keep or lodge a log book. Possibly this may change. I hope not.
Bazza

[yowie Advanced Member Find all posts View Profile Close yowie]

He's going after those "super wealthy bastards" that labor always talks about...

Rudd's wife is a millionaire, so is Paul Keating, Bob Hawke, Neville Wran (his money was hidden in bank accounts in Lichtenstein) plus others, they are all Labor politicians, but they always talk about Liberal related politicians and "others."