The end of FBT year is the time to make sure you get the most out of your salary packaging. March 31 will be here in no time, so check out these key dates and make sure you’re ready to go.
Your last date to...
Amend
If you need to amend your February/March contributions you must do so two weeks before the applicable pay date.
Spend
Tuesday 31 March, 2020
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 Tuesday 31 March 2020. 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 Wednesday 1 April, 2020. However, these funds will form part of your new cap.
What can I spend?
Make the most of your salary packaging and maximise your tax savings through these easy checks.
Your balances
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, Tuesday 31 March is the final date for transactions to be included in the 2019/20 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.