Federal Budget 2022-23 update

Federal Budget 2022-23 update 

The Federal Government delivered its 2022-23 Budget on Tuesday, 29 March 2022.

The Budget was headlined by measures to tackle cost of living pressures for Australians.

Temporary Reduction of Fuel Excise

The fuel excise will be temporarily reduced by 50% to 22.10 cents per litre for petrol and diesel, for six months from 12.01am on 30 March 2022 until 11.59pm on 28 September 2022.

After this time, the fuel excise will revert to the previous rate of 44.20 cents per litre.

This will provide temporary relief for Government of South Australia employees under novated leasing arrangements.

Employers – FBT on COVID-19 Tests 

In a law intended to be retrospective from 1 July 2021, where an employer provides RATs to employees to enable them to attend a place of work, FBT will not apply. As of 30 March 2022, legislation has not passed.

No other new tax measures were announced that impact salary packaging or novated leasing provisions for Government of South Australia employees.

What happens next?

There is nothing you need to do. Government of South Australia employees can continue to package as normal. 

We’re here to help 

If you have any questions about your salary packaging or novated leasing arrangements, please contact us.