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  1. #1
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    Default Any salary sacrifice/ tax buffs out there?

    Ok so this stuff really confuses me so bear with me 😊. I worked previously in a sector were I was able to salary sacrifice/package but last financial year (2012/2013) I did not use this option as the only money I received was my ppl and a weeks annual leave (paid out) when I informed my employer I would not be returning. But here is my issue... On my group certificate it states reportable fringe benefits as $5697! Can anyone shed some light?? The payroll lady is a witch so don't want to call unless she has made a mistake... Hope this makes sense! Oh! I should add I'm freaking out as I didn't put it on my FTB estimate as I didn't get that money it! Gah first time ever on centrelink and its way to stressful!!!!

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    It sounds like there may have been a mistake made. Neither of those should come under FBT.

    Did you actually work during the year? Did work pay for any entertainment, private health etc?

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    Pmakes3  (09-07-2013)

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    If your PPL was paid through your employee and you hadn't cancelled your salary sacrificing option with your payroll department, then they would have salary sacrificed your PPL. It shouldn't have much impact on your tax, it isn't a huge amount and will still come in under the tax free threshold.

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    Pmakes3  (09-07-2013)

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    Nope if we salary sacrifice we can only do debt such as I always did my mortgage or you could do credit card or bills ect. I defiantly didn't sacrifice anything 2012/13 financial year. I just don't understand why my group cert says there was $5697 in fringe benifits gah wish I was smarter at this stuff lol. Ill cross my fingers that the payroll made a mistake! Lol

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    Quote Originally Posted by MummaOJ View Post
    If your PPL was paid through your employee and you hadn't cancelled your salary sacrificing option with your payroll department, then they would have salary sacrificed your PPL. It shouldn't have much impact on your tax, it isn't a huge amount and will still come in under the tax free threshold.
    Thanks I'm not stressed about our return just don't want a debt with centrelink!

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    Quote Originally Posted by MummaOJ View Post
    If your PPL was paid through your employee and you hadn't cancelled your salary sacrificing option with your payroll department, then they would have salary sacrificed your PPL. It shouldn't have much impact on your tax, it isn't a huge amount and will still come in under the tax free threshold.
    Really?! I find that strange. Do you know why they do this? Is it standard?

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    I think because your salary sacrifice department is independent from payroll, so if you don't inform them they don't change your settings so any monies coming through for you will be salary sacrificed. This is what happened to me anyway. I doubt it will impact too much on your centre link as your take home pay was higher which you would have claimed. Call HR if you aren't sure, but $5k in FBs is not much so I wouldn't worry too much (it is not the same as being given $5k in cash - there is a formula you can use to calculate its worth but I don't know it off the top of my head).

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    Sounds like what happened to me. Salary sacrifice although onky give you a certain amount they mark it up by 1.5 % so it looks like u got more than u did. Ring the salary sacrifice company not ur employer cause they would've reported the amount to ur employer. Did u receive ur ss payment separately to ur normal pay?? It's crap cause u only get about $9000 but it showed 16k for ne one year cause of the markup. I had to pay back money to centrelink that year but they juat reduced my payments.


 

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