Tag Archives: FBT

01 Apr 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 Read More

16 Mar 2015

  The Fringe Benefits Tax (FBT) year runs from 1 April-31 March, this is the period during which some of your salary packaging benefits are calculated, and the year end is fast approaching – here’s a few tips to make sure you get the most out of your allowance: Living Expenses Card If you work for a not-for-profit organisation and you have a Smartsalary Living Expenses/Everyday Purchases Card you will need to spend all of the funds on your card by 31 March 2015 to maximise your tax savings. What can I spend on my card? You may want to Read More

13 Mar 2014

  The Fringe Benefits Tax (FBT) year runs from 1 April-31 March, this is the period during which your salary packaging benefits are calculated and the year end is fast approaching – here’s a few tips to make sure you get the most out of your allowance: Living Expenses Card If you work for a not-for-profit organisation and you have a Smartsalary Living Expenses Card you will need to spend all the funds on your card by 31 March 2014 to maximise your tax savings. What can I spend on my card? You may want to pay your bills in Read More

10 Jan 2014

Top 5 Blogs of 2013

Top 5 Blogs of 2013

  In 2013 we introduced our customer blog – bringing you the latest news and updates on salary packaging. From legislation to superannuation, iPads to meal entertainment cards – we wrote it – you read it! Here’s the 5 most popular articles of 2013: 1 – Government changes to FBT legislation In mid-July the Federal Government announced a proposed change to FBT (fringe benefits tax) legislation. We took a look at what the proposed changes could mean to your novated lease. These changes were never passed by parliament and novated leases are here to stay! 2 – Salary Package the New Apple iPhone Read More

22 Jul 2013

Government changes to FBT legislation

Government changes to FBT legislation

On 16 July the Federal Government announced a proposed change to FBT (fringe benefits tax) legislation. If passed by parliament, these changes will result in the removal of the tax concession for personal use of a novated lease vehicle.   Is the legislation in place now? No, the changes are simply proposed. The federal opposition does not support these changes and if elected, will not proceed with them. What will happen to my novated lease? If the proposed changes are passed as legislation, the outcome will depend on the start date of your lease. Leases entered before 17 July 2013: Read More