01 Apr 2015

fbt 2015

Happy new (FBT) year! 1 April marks the start of the 2015/2016 FBT (Fringe Benefits Tax) year, here’s a quick look at what the new year could hold for you:

New threshold amounts
If you work for a public hospital, a private not-for-profit hospital or a Public Benevolent Institute (PBI) you are entitled to a number of tax-free items each year. These items include living expenses, rent and mortgage payments and are capped at either $9,010 or $15,900 for 2015/2016 depending on your employer. To see how much you are entitled to, check your balance and see your salary packaging reports log in to your Smartsalary account here.

New year of benefits
For salary packaging items which don’t fall under the threshold cap, you have a whole new year of benefits to package. E.g. laptops and tablets – if you salary packaged a laptop or tablet during the 2014/2015 FBT year, you are now able to package a new one (providing it is used primarily for work purposes).

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