The end of FBT year is the time to make sure you get the most out of your salary packaging. 31 March will be here in no time, so check out these key dates and make sure you’re ready to go.
Your last date to...
you need to amend your February/March contributions you must do so two weeks prior to the pay date you are amending.
Thursday 31 March 2022
This is the final date for spending funds on your Maxxia Wallet Card. Don't forget, some vendors and financial institutions may take a few days to process transactions, so make sure you spend your balance before Thursday 31 March 2022. Maxxia is not responsible for any delays in processing by vendors or financial institutions.
If you have any unspent funds remaining on your Maxxia Wallet at midnight 31 March, you will not lose this money.
The balance simply rolls over for you to spend in the new FBT year, which begins on Friday 1 April 2022. However, these funds will form part of your new cap.
Remember: Payments to the Maxxia Wallet card will stop one pay early.
To provide you with extra time to spend your remaining balance before the end of the FBT year, the Maxxia Wallet card annual budget is now spread over one less pay each FBT year, so no Maxxia Wallet payment will be made from your last pay in March.
Your cap limit has not changed, it's the same annual budget, just over one less pay.
What can I spend?
Make the most of your salary packaging and maximise your tax savings through these easy checks.
Have you used the full cap limits this FBT year? Check your Maxxia account balances through Maxxia Online or the Maxxia app.
If you don't spend up to your cap, the remaining amount does not roll over to the next FBT year. Find out more.
Don’t forget, Thursday 31 March is the final date for transactions to be included in the 2021/22 FBT year.
'Set and forget' your mortgage, rent or personal loans payments
If you have a mortgage, pay rent or have a personal loan, you could enjoy the convenience of regular reimbursements into your bank account.
You simply nominate the amount you wish to put towards your 'set and forget' expenses each pay. We then deduct the amount from your salary and re-pay it to you through salary packaging, so you receive the funds tax-free.
Contact us now to organise your ‘set and forget’ benefits!
Other eligible benefits
There may be more benefits available to you than you’re aware of. Have you checked your Employer's Information Guide lately? This could include additional superannuation, a novated lease, work-related expenses (such as tablets, laptops and education) and more!
Find out more through your Maxxia Online account.