The summer break may be winding down, but the savings don't have to be.
If you have been travelling, dining out, catching up with family, or celebrating over the Christmas and New Year period, now is the perfect time to check your receipts. If you are eligible for salary packaging of entertainment expenses, those costs could still be saving you tax as we head toward the end of the FBT year.
At Remunerator, helping you get more from your pay is what we do.
One of the simplest ways to do that is by making sure are using the full value of your salary packaging benefits, including meal entertainment and venue hire.
What Can Be Packaged?
Eligible employees can salary package up to $2,650 per FBT year on:
- Dining out at restaurants, cafes, pubs and in some cases takeaway
- Holiday accommodation
- Weddings, birthdays and events held at venues.
- Catering for private parties
These expenses are paid using pre-tax dollars. That reduces your taxable income and increases your take-home pay, without changing what you spend.
With so many people travelling, eating out and hosting over summer, January and February are when this benefit becomes especially powerful.
What You Need to Do
1. Keep your receipts: Those dinners and accommodation bookings could still be turned into tax savings.
2. Submit through you Remunerator account: Log in to My Package or Apply Online and submit your receipts. We will take care of the rest.
3. Enjoy the benefit: More of your money stays with you, and less goes to tax.
This is particularly important as the FBT year runs toward its 31 March deadline. Any unused benefit for this year will not carry over.
Make It Even Easier with the Salary Packaging Card
To make things simple, we've partnered with Beyond Bank to offer a dedicated Salary Packaging Card.
This allows you to:
- Automatically spend your packaged entertainment funds
- Avoid the need to keep and submit receipts
- Easily track your balance and usage
It is the easiest way to stay on top of your entertainment and holiday spending while maximising your tax savings.
Need Help?
Not sure if an expense qualifies? Our team is here to help.
We can guide you through what is eligible, how to submit receipts, and how to get started if you are not yet packaging entertainment expenses.
With the summer holidays just behind us and the end of the FBT year approaching, now is the ideal time to make sure you are not leaving money on the table.