New Year’s Day for the Fringe Benefits Tax (FBT) year is 1 April. For your salary packaging, it’s a great opportunity to organise your account and set up your packaging so it’s ready for the year ahead.
The FBT year runs from 1 April to 31 March, and once the clock ticks over, a new cap limit is allocated – so to ensure you receive your full entitlement you should try to spend your full cap limit within that 12 month period.
People have long given affectionate names to the non-human entities they spend their lives with – think pets, plants, toys, musical instruments, boats, volleyballs (who could forget Castaway’s ‘Best Support Actor’, Wilson?) and, of course, cars.
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