McMillan cuts dividend

Group withholds payments due to uncertainty over fringe benefits changes.

A company in line to be hit by proposed changes to fringe benefit tax (FBT) has withheld payments to its shareholders because of the uncertainty caused by the federal government's election promise.

McMillan Shakespeare has already been hit by Labor's plan to tighten FBT guidelines on car leasing and salary-sacrifice packaging, with its market value more than halving in the days after the July announcement by Prime Minister Kevin Rudd.

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