The end of FBT year (EOFBTY) is the time to ensure you make the most out of your salary packaging arrangements. These are the key dates for EOFBTY to mark in your calendar:
Amend
If you need to amend your February/March contributions, you must do so two weeks prior to the pay date you are amending. This is to allow your payroll team, as well as our teams, to make the changes to your pay.
Claim
Friday 28 March 2025
If you’re eligible for the FBT exemption cap but have not yet reached the cap limit, we recommend submitting your claims before Friday 28 March 2025 to ensure they count towards your 2024/25 FBT year cap.
If you don’t have funds available in your RemServ account, and don’t have a current deduction for the benefit you are claiming, you will need to submit an amendment to request funds from your pay two weeks prior to your pay date. You can submit your claim alongside your amendment, or submit it, and any additional claims, until Friday 28 March.
Spend
Monday 31 March 2025
If you have a RemServ Wallet, we recommend that you spend your available RemServ Wallet balance by Monday 31 March 2025 for it to be counted towards your 2024/25 FBT year cap.
Remember: you don’t lose the funds themselves, but you could miss out on the full tax benefit by not spending to your cap limit.
Some vendors and financial institutions will take a few days to process transactions. RemServ is not responsible for any vendor or financial institution processing delays.
Living Expenses: If you have Living Expenses funds remaining and won’t be able to spend them before end of FBT year, consider purchasing a gift voucher to spend at a later date. This will clear your balance and let you maximise your full cap for the year!
Pre-pay bills: Where your provider/supplier allows, consider pre-paying your bills in advance to help you spend your available Wallet funds, which will be counted towards the current 2024/25 FBT year!
End of the FBT Year
Monday 31 March 2025
31 March marks the end of the current FBT year. The new FBT year will begin on 1 April, and your FBT exemption cap limit will reset.
IMPORTANT INFORMATION: The general information in this page does not take into account any of your personal or financial circumstances. For advice specific to your personal or financial circumstances, please seek your own professional independent tax or financial advice.
RemServ Wallet is a Prepaid Mastercard and is issued by EML Payment Solutions Limited ABN 30 131 436 532 AFSL 404131 pursuant to license by Mastercard Asia/Pacific Pte. Ltd. Remuneration Services (QLD) Pty Ltd ABN 46 093 173 089 (RemServ) is an Authorised Representative of EML Payment Solutions Limited Australian Financial Services Authorised Representative number 000278683 and participates in the promotion and distribution of the Card. Consider if this product is right for you. You should read the Product Disclosure Statement (PDS) for this product before making any decision on the new Card (RemServ Wallet). You can read the PDS here. The Target Market Determination for this product can be found here.