1 April: An important date on the Salary Packaging calendar
New Year’s Day marks the beginning of a fresh start for everyone. Resolutions are made (and promptly broken), bold predictions made and we all look forward to a fresh start.
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.
It’s important that your account and benefits are set up so that you’re comfortable and know what you need to claim, spend or monitor throughout the year. Taking some time to review your accounts and budgets will give you the confidence and peace of mind that your salary packaging is rolling along each pay in the way you intended.
There are some things you can do now to set up your account for the coming year and make this FBT year an absolute breeze:
- Moving jobs this year? If you have plans to make a career change during the upcoming FBT year, let RemServ know as soon as you can. The sooner we know, the sooner we can help you get as much benefit as possible out of your current position before you move.
- Are your account details up-to-date? Ensure all your work and personal details are current. You can check and update your details with RemServ Online and the RemServ app. If you don’t have an account yet, register at remserv.com.au, click on ‘My Account’ and follow the prompts.
- What are you eligible for? The start of the FBT year is a great time to check exactly what benefits are available to you; you might be surprised! Check out the range of benefits you could be eligible to package here.
- If you have a novated lease, are you keeping within your agreed budget? Do you need to contribute more salary? You can check your account details, including your current available balance via your account online.
Keeping track of your account now will ensure a smooth run towards the end of the FBT year on 31 March! We’re here to help you with all the information you need. To get in touch with us, simply contact us online.
Disclaimer: This website contains general information and doesn't take your personal circumstances into account. Seek professional independent advice before making a decision.
