(Editor's Note: Shares of McMillan Shakespeare trade with limited liquidity as MCSLF in the U.S. Investors with access to Australian markets can trade the MMS.ASX ticker, which has better liquidity.)
Introduction and Background
Australia's largest salary packaging company, McMillan Shakespeare Limited (MMS.ASX), saw its share price plummet 50% upon announced changes to the Fringe Benefits Tax (FBT).
The FBT is levied against employers who supply employees with non-cash benefits. These 'fringe' benefits can include:
As Australia's dominant salary packaging company, MMS provides employees with:
- All of which rely heavily upon the performance of the company's vehicle services.
The 'statutory' method
|FREE||SA PRO MEMBERS|
|IDEA GENERATOR||X||Exclusive access to 10 PRO ideas every day|
|INVESTING IDEAS LIBRARY||X||Exclusive access to PRO library of more than 15,000 ideas|
|SECTOR EXPERT NETWORK||X||Exclusive access to all sector experts for direct consultation|
|PERFORMANCE TRACKING||X||Track performance of all PRO stock ideas|
|PROFESSIONAL TOOLS||X||Professional Idea Filters to zero-in based on industry, market cap and more|