Things you need to know: The above information is not intended to constitute taxation or financial product advice. Your benefits and savings will vary depending on your personal objectives, financial situation and needs.
We recommend you obtain independent financial advice before making any financial decisions. Eligibility criteria and terms and conditions apply. All salary packaging proposals are subject to the requirements of your employer. Administration fees will apply. The actual administration fee that applies to you may vary depending on your employer. Maxxia may pay and receive commission or rebates in connection with some services and products it provides or arranges to be provided by third parties.
Calculate your savings. Work related items. Desk top computers are not eligible. Things you need to know: The above information is not intended to constitute taxation or financial product advice. Your benefits and savings will vary depending on your personal objectives, financial situation and needs. We recommend you obtain independent financial or taxation advice before making any financial decisions.
Eligibility criteria and terms and conditions apply. All salary packaging proposals are subject to the requirements of your employer. Administration fees will apply. The actual administration fee that applies to you may vary depending on your employer. Yes, the device is required to be purchased outright. The device must be mostly for work purposes. Skip to content. An electronic portable device, according to the Australian Taxation Office ATO , are items that are easily portable, small and light, operate without external power supply and is designed as a complete unit.
These include items such as a laptop, tablet, GPS navigation system, personal digital assistants and mobile phone. They can be carried to different locations without the need to set them up. The purpose of a Salary Sacrifice Arrangement is for the employer to reimburse the employee for the GST inclusive cost of purchasing a portable electronic device.
By doing this, the employee agrees to forgo an amount from their salary which is equal to the purchase price of the portable electronic device plus any fringe benefits tax liability associated with the benefits provided, less any input tax credits that can be claimed by the employer for the electronic portable device.
Sounds like a mouthful? Below we explore the salary sacrifice arrangement and determine if there is in fact a benefit for both the employer and employee. According to the ATO, an employee can salary sacrifice more than one electronic portable device per fringe benefit tax year, and it will be exempt from fringe benefit tax for the employer.
However, these electronic portable devices must be different, hence an employee would be unable to salary sacrifice two laptops or two mobile phones during the same fringe benefit tax year.
For a portable electronic device to be exempt it must be one of the items mentioned above and used primarily for work-related use Google FBTAA S58X. In addition, the employer does not need to report it as a fringe benefit and there is no fringe benefit tax to pay on it.
As an employer, a deduction can be claimed, and in addition, the GST credit can also be claimed on the device. The employee, though, will not be able to claim the device in their tax return, however they may end up having more disposable income in their hands refer below.
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