The Productivity Commission is conducting a review of two tax concessions which provide assistance to individuals living in specified areas of Australia.
The Productivity Commission has released its Issues Paper to assist organisations and individuals in preparing submissions as part of the study it is undertaking into the zone tax offset and related remote area tax concessions and payments.
The Federal Government requested the study in response to concerns that the design of these mechanisms has not evolved to adequately reflect varying degrees of demographic, infrastructure and cost-of-living change occurring in Australia.
The Government provides assistance to individuals who reside in specified geographic areas through the Zone Tax Offset (“ZTO”), the fringe benefits tax (FBT) remote area concessions and the Remote Area Allowance. This article focuses on the ZTO and FBT concessions.
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