Palmer United Party to abolish Fringe Benefits Tax on entertainment By Palmer United Party On July 17, 2013 Posted In Media Release Media release Palmer United Party to abolish Fringe Benefits Tax on entertainment The Palmer United Party’s senate team leader in South Australia, James McDonald, has highlighted the benefits of the party’s intention to abolish Fringe Benefits Tax on business lunches. Mr McDonald says the policy is hurting the food and hospitality sector because of the financial burden it places on business meals. “So many restaurants in and around our state have been damaged by the Fringe Benefits Tax,” Mr McDonald said. “The weekday lunch trade died when Fringe Benefits Tax was applied to business lunches. Many restaurant owners are suffering because it is driving down the lunch trade and in turn denying employment opportunities,” he said. “In my experience around the world, people do business during lunches and new ideas are created in a more relaxed environment. “Business people are staying in their offices and not taking clients and associates out to lunch, which causes knock on effects in the hospitality industry. “Taxation of business meals fails the test of good tax policy and if elected our party will immediately abolish the Fringe Benefits Tax on entertainment.” Mr McDonald said abolishing the tax would boost restaurant trade and create more jobs. “Restaurants will make more profits, therefore there will be an immediate impact on tax for PAYE and tax on increased profits, which will more than replace the revenue that Fringe Benefits Tax created,” he said. “The move will also provide much-needed confidence in the business marketplace. “This is another Palmer United Party policy which will provide Australians with a fair go.”
Posted on: Mon, 29 Jul 2013 13:48:34 +0000
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