On 23 June 2011, the Senate agreed that the Senate Economics References Committee would undertake a review of the operation of certain amendments to the tax treatment of car fringe benefits 12 months after the amendments commenced.

The amendments, as enacted by Part 1 of Schedule 5 to the Tax Laws Amendment (2011 Measures No. 5) Act 2011, altered the statutory formula method for determining the taxable value of car fringe benefits by replacing the previous multiple rates with a single statutory rate of 20 per cent, regardless of kilometres travelled. The amendments commenced on 29 June 2011. They apply to commitments made after 10 May 2011 and are being phased in over four years.

The Tax Laws Amendment (2011 Measures No. 5) Act 2011 can be viewed here: http://www.comlaw.gov.au/Details/C2011A00062.
The explanatory memorandum which accompanied the Bill can be viewed here:
http://www.comlaw.gov.au/Details/C2011B00100/Explanatory%20Memorandum/Text.

Submissions should be received by 12 November 2012. The initial  reporting date was 27 June 2013, which has now been brought forward to 27 February 2013.

The Committee is seeking written submissions from interested individuals and organisations preferably in electronic form submitted  online or sent by email to  economics.sen@aph.gov.au as an attached Adobe PDF or MS Word format document. The email must include full postal address and contact details.

Alternatively, written submissions may be sent to:

Senate Economics References Committee
SG. 64, PO Box 6100
Parliament House
Canberra ACT 2600
Australia

Notes to help you prepare your submission are available from the website at https://www.aph.gov.au/senate/committee/wit_sub/index.htm. Alternatively, the Committee Secretariat will be able to help you with your inquiries and can be contacted on telephone +61 2 6277 3540 or facsimile +61 2 6277 5719 or by email to economics.sen@aph.gov.au.

Inquiries from hearing and speech impaired people should be directed to Parliament House TTY number 02 6277 7799. Adobe also provides tools at  http://access.adobe.com/ for the blind and visually impaired to access PDF documents. If you require any special arrangements to enable you to participate in the Committee's inquiry, please contact the Committee Secretariat.

Once the Committee accepts your submission, it becomes a confidential Committee document and is protected by Parliamentary Privilege. You must not release your submission without the Committee's permission. If you do, it will not be protected by Parliamentary Privilege. At some stage during the inquiry, the Committee normally makes submissions public and places them on its website. Please indicate if you want your submission to be kept confidential.