Contact: Louise Denver
Deloitte
Financial Services Communications
0414 889 857

Contact: Neil Ward
Deloitte
Tax Partner
0411 269 703

“The announcement that finance leased taxation is to stay the same is a pragmatic solution to an issue that would have been potentially been fraught for business,” said Deloitte Tax Partner Neil Ward.

“The concern of business was that the tax treatment of finance leases would have become embroiled in the current reforms of the taxation of financial arrangements. This would have added significantly to the complexity of the changes in this area and delayed it,’ he said.”

“It is also pleasing that the Government has also announced that the long awaited review of the taxation of finance leases will not proceed.”

NB: See our media releases and copies of the report on www.deloitte.com.au