Understanding salary packaging all comes down to explaining things in the right way, so we thought we’d break down the post-tax component of novated leasing and see if we can get things to ‘click’ for you!
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 April 1 to March 31, and once the clock ticks over a new cap limit is allocated – so you should try to spend your full cap limit within that 12 month period in order to receive your full entitlement.
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.
Remuneration Services (QLD) Pty Ltd (ABN 46 093 173 089) (RemServ) act as an authorised representative on behalf of a number of Australian financial services licensees. The capacity in which we act and the financial services we are authorised to provide are set out in our Financial Services Guides. We act as an agent for those licensees and not for you.
RemServ collects your personal information from you when you apply for a product and request any information from us, and we may use this information to contact you about our products, services and offerings. To read more about how we handle your personal information, please read our Privacy Statement.