Tag Archives: fringe benefits tax

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

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