All you need to know about the end of the Fringe Benefits Tax year

The deadline date for making a change to your salary packaging, claiming a reimbursement or applying to start salary packaging are fast approaching. The cut off dates to ensure we can action your requests before the end of the FBT year are shown below.

 

Activity Final Date
Request changes to deductions for any pay prior to 31 March 28 February 2020
Apply to start salary packaging with a pay in March  01 March 2020
Reduce account and card balances to $0 31 March 2020

 

 

 

 

 

Funds on your salary packaging card and/or balances in your salary packaging account need to be spent before the end of the Fringe Benefits Tax (FBT) year. Where a balance rolls over from 31 March to 1 April, your salary packaging for the next FBT year will be reduced by that figure. This means less tax savings! Below are some examples of missed tax savings for rollover balances*

 

Annual Salary Card/account balance at 1 Arpil Missed tax savings
$36,000 $300 -$63
55,000 $300 -$104
*Calculations are based on salary packaging $15,900 for general living expenses in the 2019/2020 FBT year. 

 

 

 

 

 

 

 

 

 

 

 

 

Claiming your salary packaging balance

The FBT year ends on 31 March, and all claims for meals, holiday accomodation, and car parking from you account must be received prior to ensure they're processed prior to the end of the FBT year.

When using your salary packaging card, some vendors and financial institutions may take a few days to process transactions so we recommend you don't wait until the last minute to spend your balance, but allow time for all pending transactions to be processed by 31 March.

Please note: You can check Salary Packaging Card balances via Westpac live or at any ATM.

Any changes to salary packaging deductions need to be made at least 7 days before the relevant pay cycle and no later than 28 February.

 

Making a claim for meals, holiday accomodation, or car parking

There are a few ways to make a claim

Make a claim online

The quick and easy way to make a claim is online here. 

Complete a form 

Download a claim form, complete and return to us via email.

Get in touch

If you have any questions or need assistance with making a claim please contact us.