Commentary suggests transitional rule is unlikely to be introduced as the Government remains concerned about the loss of revenue. In the absence of transitional rules it is expected the revised rules will apply to LAFHA arrangements in place at 1 July 2012, as well as to future LAFHA.
The Federal Government is seeking passage of the Bill on or prior to 28 June 2012 in time for a 1 July 2012 commencement date.