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End of the FBT year

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

All balances must go

All balances must go! Funds on your Salary Packaging Card and/or balances in your Advantage salary packaging account cannot roll forward into the new Fringe Benefits Tax (FBT) year, starting 1 April.

Where a balance rolls over from 31 March to 1 April, your salary packaging for the next Fringe Benefits Tax year will be reduced by that figure. This means less tax savings!

Examples of missed tax savings for rollover balances*

Annual salary

Card balance at 1 April

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 2018/2019 Fringe Benefits Tax Year, 1 April 2018 to 31 March 2019.

Should you wish to speak to an Advantage advisor, make an appointment for your preferred time here.

FBT Cards

A quick way to spend your Salary Packaging Card balance

If you're looking for a simple way to spend your card balance, why not purchase an FBT Card?

The FBT Card is a prepaid MasterCard that you can easily transfer your exact Salary Packaging Card balance/s to, giving you an additional 12 months to spend salary packaging funds without reducing your annual cap for the 2019/2020 Fringe Benefits Tax year (1 April to 31 March).

Each FBT Card costs $9.94 and can hold up to $2,000 of either General Living Expenses or Entertainment Benefits funds.

How to purchase an FBT Card

If you're a Salary Packaging Cardholder, you will receive a unique link. All you have to do to purchase an FBT Card is click the link in that email and follow the verification steps.

Read the Frequently Asked Questions about the FBT Card here.

The FBT Card is a single load card - once you have transferred your funds to this card, you won't be able to add more funds from your Salary Packaging Card(s). Advantage recommends transferring your balance in the last week of March, after your last pay for the Fringe Benefits Tax year. Once the purchase process has been completed, the cards will be sent to you via Australia Post. Activation instructions will be included with your card.

Claiming your salary packaging account balance

The Fringe Benefits Tax year ends of 31 March 2019. All claims for balances currently in salary packaging accounts must be received by 6.00pm (ACDT) on Friday, 15 March 2019 to ensure they are processed prior to the end of the FBT year.

Claims received after this date may not be processed before the end of the FBT year.

Tip! To ensure your claim is complete and ready to be processed, complete the form here. Return your completed form to info@salary.com.au.

Due to the high volume of requests being received in March, new payments or changes to current arrangements are required to be received by Advantage 7 business days prior to your usual payday.

Accessing your account online

You can check balances and transaction listings for both your salary packaging account and your Salary Packaging Card by logging in via the web and the Westpac Live app.