The key changes will be the removal of this allowance from Fringe Benefits Tax area, to become assessable income of the employee. The employee will be required to satisfy deductibility obligations in a similar way to the existing rules for car allowances.
Any existing Living Away from Home Allowance arrangements will be subject to the old rules until 1st July 2014.
In other words, there is a transitional opportunity to retain the same benefits for two further financial years, provided the existing arrangement continues.
7th-October-2012 | 
