+ Reply to Thread
Results 1 to 8 of 8
  1. #1
    Join Date
    Sep 2011
    Location
    Sunshine Coast
    Posts
    132
    Thanks
    10
    Thanked
    16
    Reviews
    0

    Default Salary Sac/FBT help

    Hi guys, is there anyone who knows about sal sac and centrelink?

    I report my gross wage to centrelink and I sal sac. I dont qualify for Family Assist (FTB), only CCB and CCR.

    Now I thought I was fine but someone has informed me Im wrong. Apparently Clink add up your gross wage and also add your FBT and use that as your income. How can that be right?

    My sal sac and employer have previously told me I am fine as long as I report my gross wage and now Im freaking out!!

    Can anyone help?

  2. #2
    Join Date
    Sep 2011
    Location
    Sunshine Coast
    Posts
    132
    Thanks
    10
    Thanked
    16
    Reviews
    0
    Bumping please
    Freaking out a little that now Ill owe heaps of money!

  3. #3
    Join Date
    Feb 2014
    Posts
    3,198
    Thanks
    312
    Thanked
    960
    Reviews
    13
    Achievements:Topaz Star - 500 postsAmber Star - 2,000 posts
    Doesn't salary sacrifice just improve net not gross?

  4. The Following 2 Users Say Thank You to maternidade For This Useful Post:

    MyBubbaJack  (09-03-2014),smallpotatoes  (09-03-2014)

  5. #4
    SpecialPatrolGroup's Avatar
    SpecialPatrolGroup is offline T-rex is cranky until she gets her coffee.
    Join Date
    Aug 2008
    Location
    In the messy house, Brisbane
    Posts
    9,481
    Thanks
    2,180
    Thanked
    5,405
    Reviews
    1
    Achievements:Topaz Star - 500 postsAmber Star - 2,000 postsAmethyst Star - 5,000 posts
    Your pay office should be able to give you the figure that you need to reprt to centrelink/family assistance office.

  6. #5
    Join Date
    Sep 2011
    Location
    Sunshine Coast
    Posts
    132
    Thanks
    10
    Thanked
    16
    Reviews
    0
    Yes, just improves my taxable income. And I already report my gross.

    Work and sal sac all said I should be fine if I reported my gross wage.

    But Ive been told Im wrong my someone, what their saying makes no sense yet they ended up with a clink debt

  7. #6
    Join Date
    Apr 2013
    Posts
    2,174
    Thanks
    284
    Thanked
    576
    Reviews
    0
    Achievements:Topaz Star - 500 postsAmber Star - 2,000 posts
    If ur salary sacrificing don't forget the mark up they do. So if you salary sacrifice at the full rate it's about 9k. Then they add another 8k to it. So on your group certificate it will show you earned 16k in FBT. This makes a difference to overall amount earned. I Made The Same Mistake. When I reported my income after I had my son I estimated the 12 mths but I forgot the stupid FBT. So they took the money u get each year for your child because I was overpaid! FBT is only good if u don't have hecs or get ftb.

  8. #7
    Join Date
    Sep 2011
    Location
    Sunshine Coast
    Posts
    132
    Thanks
    10
    Thanked
    16
    Reviews
    0
    I dont get FTB bit I do get CCR and CCB
    I dont understand how they can add ot to your gross wage... When you didnt actually earn that much. It seems so wrong.

  9. #8
    Join Date
    May 2012
    Location
    Perth
    Posts
    204
    Thanks
    11
    Thanked
    102
    Reviews
    0
    Yes they include your FBT (Fringe Benefits Tax) as income. Although they only calculate about 50% of it as income through. It is on the website and they usually ask you this when you declare your income. Say you earnt $50K, and then additionally earnt $4K of FBT, then your income would be according to CL/FA be $52K. Does that make sense ?


 

Similar Threads

  1. salary
    By kerry36 in forum Family Finances
    Replies: 3
    Last Post: 28-12-2013, 10:14
  2. Salary package
    By SugarplumMummy in forum Working Hubbers - Employed
    Replies: 24
    Last Post: 14-08-2013, 16:55
  3. Any salary sacrifice/ tax buffs out there?
    By Pmakes3 in forum Family Finances
    Replies: 7
    Last Post: 09-07-2013, 20:10

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
free weekly newsletters | sign up now!
who are these people who write great posts? meet our hubbub authors!
Learn how you can contribute to the hubbub!

reviews
learn how you can become a reviewer!

competitions

forum - chatting now
christmas gift guidesee all Red Stocking
Tambo Teddies
Visit our online store and select your individually handmade natural sheepskin teddy bear. Our soft and loveable bears come in a range of styles and colours. Created in Outback Queensland each bear is unique individual. 100% Australian made!
sales & new stuffsee all
Bub Hub Sales Listing
HAVING A SALE? Let parents know about it with a Bub Hub Sales listing. Listings are featured on our well trafficked Sales Page + selected randomly to appear on EVERY page
featured supporter
Shapland Swim Schools
Semi private learn to swim classes for a maximum of 3 children in specialized heated teaching pools. Our swim schools are located across Brisbane, Ipswich and the Sunshine Coast, ensuring there's a school near you.
gotcha
X

Pregnant for the first-time?

Not sure where to start? We can help!

Our Insider Programs for pregnancy first-timers will lead you step-by-step through the 14 Pregnancy Must Dos!