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FBT Planning Idea Tax Policy

Another go at closing salary packaged cars

One of the arguments presented by the salary packaging companies (please note these are companies that only exist due to the combination of a tax loophole and tricky marketing – https://taxrambling.wordpress.com/2013/11/29/the-post-the-salary-packagers-do-not-wanted-you-to-see/) is that removing the statutory method for calculating car fringe benefits would hurt the local car manufacturers. But by 2017 there will be no […]

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FBT Planning Stuff Tax Policy

The post the salary packagers do not wanted you to see…

Go to any salary packager’s website and they will have a calculator. After you complete or the details the calculator will tell you how much you will save in tax by salary packaging a car. THIS NUMBER IS ABSOLUTELY RUBBISH. I don’t mean the calculation is wrong in any way at all. What I mean […]

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FBT Planning Stuff

Even crazier (and legal) salary packaging ideas

In the National Tax Liaison Group FBT Subcommittee (yes I have sat on this committee and it is full of FBT nerds…) in November 2005 the Commissioner confrimed that, as an employer can provide a benefit to an employee for their long service valued at $1,000 after 15 years, increasing by $100 every year after that, and there is […]

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FBT Planning Stuff

Crazy (but legal) salary packaging options…

An expense fringe benefit arises when an expense is reimbursed, irrespective of when the employee incurred the expense that is reimbursed. So if you forgot to salary package an expense that it would have been beneficial to salary package then just get it reimbursed today and the benefit arises. First a silly example… For ten […]