apologies if this has been covered already, but was wondering if anyone had insight here...
In this years' budget:
Any idea how this might (or might not) apply to employees currently utilizing the rental reimbursement system?Tax Deduction for domestic rental expenses
Ease the burden of renting a private property on taxpayers liable to salaries tax and tax under personal assessment who are not owners of domestic properties
Subject to a deduction ceiling of $100,000 for a year of assessment from the year of assessment 2022/23
Back of the envelope suggests quite a difference between savings under each system... So, if you stand to save more using the 2022 budget measure, can you? Or, does subscribing to the rental reimbursement scheme preclude you?