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 mark these key dates in your calendar.
Your last date to...
If you need to amend your February/March contributions, you must do so two weeks prior to the pay date you are amending.
Sunday 31 March 2024
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 Sunday 31 March 2024. 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 Monday 1 April 2024. However, these funds will form part of your new cap.
Remember: payments to the Maxxia Wallet card will stop one pay early in March.
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 cycle.
What can I spend?
Make the most of your salary packaging benefits and maximise your potential 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 the full amount of your cap available, the remaining cap amount does not roll over to the next FBT year. Find out more.
Don’t forget, Sunday 31 March is the final date for transactions to be included in the 2023/24 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 then reimburse you from your salary packaging account, so you receive the funds tax-free.
Contact us now to confirm your expenses are eligible and 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.
IMPORTANT INFORMATION: The general information in this page does not take into account any of your personal or financial circumstances. For advice specific to your personal or financial circumstances, please seek your own professional independent tax or financial advice.