Purchases of food and drink for general consumption at home e.g. Subject to the terms of any contract of employment or industrial agreement, you can renegotiate a salary sacrifice arrangement at any time. You and your employer agree for you to receive less income before tax and in return your employer pays for certain benefits of similar value for you. Read the. GO Salary offers a Salary Packaging card for everyday household expenses, and a Meal Entertainment card for dining and holiday accommodation. Here are some examples of the potential tax saving structures: Public Benevolent Institution Public Hospital $18,200 Annual Tax-Free Threshold $18,200 $2,649 Meal Entertainment Cap $2,649 $15,900 ($30,000 Cap) Annual Cap $9,010 ($17,000 Cap) $36,749 Tax free Salary $29,859 We take the guesswork out of salary packaging. The MEC is provided to employees as part of the salary packaging arrangements at NSW Health. Alternatively, this request can also be made via the Beyond Bank app. Meal Entertainment: COVID-19 Update. We are a small not-for-profit and I would like to set up salary packaging including the meal/entertainment/holiday allowance of . grocery items. for birthday party on such and such date). Please consider if this product is right for you. Salary package up to $2,650 of meal entertainment expenses and you could save hundreds of dollars each Fringe Benefits Tax (FBT) year (1 April - 31 March). The meal cost must be included in the claim. Overseas meal purchase if receipt is in English. Beyond Banks community focus aligns perfectly with our dedicated customer service and value commitments throughout metropolitan and regional Australia. Create your myGov account and link it to the ATO, Help and support to lodge your tax return, Residential rental properties and holiday homes, Instalment notices for GST and PAYG instalments, Your obligations to workers and independent contractors, Encouraging NFP participation in the tax system, Australian Charities and Not-for-profits Commission, Departing Australia Superannuation Payment, Small Business Superannuation Clearing House, Annual report and other reporting to Parliament, Complying with procurement policy and legislation, Consequences of having a reportable fringe benefits amount, Employee or contractor - what's the difference, Employee or contractor - tax and super obligations compared, What to do if you think you're an employee, Employment termination payments - for employees, Recipients of death benefit termination payments, Income statement not finalised or missing payment summary, PAYG withholding - varying your PAYG withholding, Incorrect reportable employer super contributions, Payments from worker entitlement funds - information for individuals, Genuine redundancy and early retirement scheme changes, Entering an effective salary sacrifice arrangement, How tax applies to a salary sacrifice arrangement, Aboriginal and Torres Strait Islander people. Can I claim food and drinks for a birthday, wedding or anniversary? Salary packaging is an ATO approved way of paying for certain items before you pay income tax. GO Salary has partnered with Beyond Bank, a member owned community bank and a leading provider of card solutions. The salary packaging provider calculates that: The following table illustrates how salary sacrificing and employee contributions work, by comparing the net disposable income for Sam in 3scenarios for 202122: 2. Beyond Banks community focus aligns perfectly with our dedicated customer service and value commitments throughout metropolitan and regional Australia. You cannot take cash out of the card. You can save on groceries, bills, clothing, and just about anything else. If you feel that our information does not fully cover your circumstances, or you are unsure how it applies to you, contact us or seek professional advice. (Special declaration required). Credit card stub receipt only or receipt that is not itemised/does not show business name and ABN. 2. The Target Market Determination for this product can be found here. Worldwide acceptance. Mary's employer works out the taxable value of the benefit using the actual value method on a per-head basis. the card cannot be used to withdraw cash; e.g. You are free to copy, adapt, modify, transmit and distribute this material as you wish (but not in any way that suggests the ATO or the Commonwealth endorses you or any of your services or products). the 50:50 split method - the taxable value is 50% of your total expenditure on entertainment facility leasing expenses for all people, whether they're employees, clients or others, during the FBT year. Eligible expenses are packaged and paid to you as tax-free salary, reducing your tax bill and potentially increasing your take home pay by thousands each year. Salary Packaging and Meal Entertainment card. Australian Taxation Office for the Commonwealth of Australia. You should seek financial advice before entering a salary sacrifice arrangement. Can I use Meal Entertainment for take-away, home delivery etc.? Home delivery and takeaway meal purchases can be included as valid forms of Meal Entertainment during the 2020-21 FBT Year (1 April 2020-31 March 2021).Usually, only dine-in options are available, but this has been relaxed as a result of restrictions in place due to COVID-19. You will still salary package the same amount annually itll just be spread over one less pay (say, 25 fortnightly pays instead of 26). any receipt marked takeaway, drive through, carry out, will not be accepted. For new GO Salary members, apply now toget your salary packagingstarted in minutes. Onboard Finance authorises Maxxia Pty Ltd ABN 39 082 449 036 (Credit Representative no. You can salary package: up to $15,900 per FBT year if you work for a charity or not-for-profit organisation (equal to $611.50 per fortnight) up to $9,010 per FBT year if you work for a public or private not-for-profit hospital (equal to $346.50 per fortnight) Even if you have a HELP/HECS debt you could benefit from salary packaging. Gasthaus Lehner Zum Storchennest, Gunzenhausen: See 134 unbiased reviews of Gasthaus Lehner Zum Storchennest, rated 4.5 of 5 on Tripadvisor and ranked #1 of 40 restaurants in Gunzenhausen. Last modified: 12 Jan 2023 QC 71137 The meals and drinks (including those of guests with the eligible employee) do not have to be related to employment with NSW Health. wedding or birthday party. payment of your expenses for loan repayments, school fees and childcare costs. a department store appearing on your statement, any inappropriate use of the card will require a refund to NSW Health in post-tax dollars for the value of unauthorised use, where NSW Health is of the view that an employee continually breaches the policy, the employees card may be cancelled without further notice and the employee disqualified from applying for another Meal Entertainment Card for a period of time determined at the discretion of NSW Health, foreign currency fees may be incurred if the card is used overseas, NSW Health use an EML Payment Solutions Limited merchant block to allow restaurant and caf purchases only. 532668. Employees will need to provide hand written annotations on any items appearing on the statement that are not obviously meal entertainment from the entry appearing on the statement (eg items purchased from a hardware store, supermarket). With our restaurants and local eateries mostly open for business again we have been advised by the ATO that as of 1 April 2021, takeaway and home delivered meals can will no longer be claimed as allowed when using Meal Entertainment. 1 What can I salary package under Meal Entertainment? At LeasePLUS, diversity and inclusion are more than just words. This is clearly marked. The contract is usually in writing but may be verbal. A salary sacrifice arrangement is also referred to as salary packaging or total remuneration packaging. Taxi travel to restaurant/venue for meal entertainment. taxi fares or an overnight stay are also an allowable part of this benefit and there is no limit to the number claims you can make. Use your card to buy almost anything including groceries and clothes, or to pay for your bills. Address: Level 12,717 Bourke StreetDocklands, VIC 3008, Proudly partnering with Beyond Bank Australia -. Link to download MySalPack app user guide, More information about our partnership with Beyond Bank Australia, Book a salary packaging phone consultation. If you have provided meal entertainment or entertainment facility leasing expense benefits under a salary packaging arrangement for the year ending on 31 March 2021, complete steps 1-12. Read the PDS for more information. The important thing is that these benefits form part of your remuneration. But now you'd be paying for them with tax-free dollars. Tickets to movies, sporting or cultural events. If you are salary packaging meal entertainment, you are able to now include take-away and delivered meals from venues which previously offered dine-in facilities, but . Salary Packaging is an ATO approved method of restructuring your salary. Please consider if this product is right for you. Meals and entertainment benefits - employees can allocate up to $2,650 each FBT year towards entertainment benefits. If the answer is yes, by salary packaging meal entertainment benefits, you could enjoy a tasty side of tax-free savings when you dine out with family or friends. What expenses can an employee pay with the MEC? The result is that you pay less income tax and increase your take-home pay. The 50:50 split method the taxable value is 50% of your total expenditure on all meal entertainment for all people (irrespective of whether they're employees, clients or others) during the FBT year. Please call Beyond Bank on13 25 85immediately. Smartsalary Salary Packaging and Meal Entertainment Card. Salary+car (withemployee contributions), Income after tax and salary sacrifice amount, Reportable fringe benefits amount for employee's income statement or payment summary, (car fringe benefit taxable value of $7,0001.8868). Eligible expenses are 'packaged' and paid to you as tax-free salary, reducing your tax bill and potentially increasing your take home pay by thousands each year. 1 Theres a cap across Meal and Entertainment, Holiday Accommodation and Venue Hire benefits of $2,650 per FBT year (1 April 31 March). Meal Entertainment allowance - Cap of $2,650. Some of the information on this website applies to a specific financial year. But it can also seem quite complicated in the beginning. Once you know the taxable value of the benefits, you can calculate, report and pay your FBT. Taxi fares to and from the restaurant or event. To be effective, the employee must enter into the arrangement: before they become entitled to be paid before they perform any work. An employee can of course pay for such expenses with their credit card, if they have salary packaged a credit card utilising the $17,000 FBT free cap. Sam earns $65,000a year and is considering entering into an effective salary sacrifice arrangement. This is over and above your normal salary packaging amount. For example, a sandwich and drink for lunch is considered 'sustenance' and cannot be claimed under this benefit.