The Government will update the method of determining the taxable value of airline transport fringe benefits from stand‑by value to market value.
OK? So what was the "stand-by" value anyway? Given that there has not been "stand-by" fares for eons!
Aren't staff travel benefits based on something like ID90 to full fare anyway? The full fare being the "market value"? And isn't that what FBT is currently based on?
No doubt airlines that value their employees will provide an explanation to this before they jack up the price of "stand-by" staff tickets!
