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Be prepared for the end of FBT year! March 2009 How to prepare for end of FBT year... Action Date - March 16 Do you want to make changes to your pay Do you have payments or reimbursements deduction amounts or package structure to which you are yet to submit for this FBT Year? commence from April 1? THESE MUST BE RECEIVED NO LATER THAN MONDAY MARCH 16 THESE MUST BE RECEIVED NO LATER THAN MONDAY MARCH 16 Download a payment & reimbursement Download an amendment form from claim form from the ‘My Employer’ the ‘My Employer’ section of section of www.remserv.com.au www.remserv.com.au Complete form and attach Complete form and attach - unpaid invoices for direct payments supporting documents for changes - paid invoices & proofs of purchase for Please check the fact forms downloadable from the reimbursements ‘My Employer’ section of www.remserv.com.au Return to RemServ by March 16* Return to RemServ by March 16* Fax - 1300 30 18 66 Fax - 1300 30 18 66 Email - firstname.lastname@example.org Email - email@example.com Q’s I have a novated lease - what does end of FBT year mean for me? You will have to provide an end of FBT year odometer reading. Advice on how to provide this reading will be sent to you in March. uestion I have surplus funds in my RemServ account, what are my options? Leave the surplus funds in your salary packaging account for next FBT year Claim for an FBT exempt item as a reimbursement or direct payment (See process above) Reverse funds to your payroll or nominated superannuation fund (To do so follow amendment process above) Be FBT smart and check your account online! HOT Ensure yourwww.remserv.com.au. If you don’t have yourchecking your call RemServ onvia ‘My30 40 10 details are correct for the end of FBT year by account online TIP or email firstname.lastname@example.org Account’ at login details, 1300 I have reached my FBT cap early. What happens now? Unless you choose to temporarily cease packaging (using the amendment process above) the following will happen: Deductions from your salary will continue as normal; All out-going payments to FBT reportable bene ts will be put on hold until after April 1 (alternative arrangements for these payments should be made during this period); Outgoing payments will resume as normal from April 1. As a result of this process surplus funds may accumulate in your account. Your options for using these funds are detailed above in Question 2. *Payments, reimbursements and amendments must be received by 16 March 2009 to be processed in time for the end of Fringe Benefits Tax year. RemServ cannot make payments where there are insufficient funds or insufficient FBT cap. Requests that cannot be processed in this FBT year will be set up for payment, where funds and cap permit for the next FBT year, unless you advise otherwise. Requests for changes in time for the new FBT year will be processed ready for reporting by RemServ to payroll at the end of March, however changes to payroll deductions will be determined by payroll processing timeframes. See your information booklet for more information about amendments and applicable charges. Be prepared for the end of FBT year - March 2009! FAQ’s Frequently asked questions at FBT time Q I have a novated lease. What do I need to do? You will need to note the closing odometer reading at March 31 and provide to RemServ. You can submit your final odometer reading from March 31 until Monday April 6 by calling 1300 73 79 99 or online at www.remserv.com.au. You will receive a letter in March with further information on how to lodge your odometer reading. Q I have received an odometer declaration letter for a vehicle I no longer salary package, do I need to do anything? Yes. You need to complete and submit a novated lease cessation form to RemServ to finalise the vehicle from your account. These forms are available through the ‘My Employer’ section at www.remserv.com.au. Failure to finalise a previously packaged vehicle may result in a possible FBT liability. Q When do I need to have my invoices and receipts in if I want to be reimbursed out of this year’s cap limit? Requests for direct payment or reimbursement to be made in this FBT year must be received by Monday March 16 to process your request (where funds are available). Q If I have cap available at the end of this FBT year, will it roll over to the new FBT year? No. If you want to utilise any available cap for the current FBT year you must submit your request to RemServ by March 16. Your new cap will start on April 1, however you can use surplus funds in your account at anytime on FBT exempt items. Q I’ve got extra unspent funds in my account. What can I do with these? You have three options: • Leave the surplus funds in your salary packaging account for next FBT year; • Claim for an FBT exempt item as a reimbursement or direct payment. A full list of FBT exempt items is available at www.remserv.com.au; or • Reverse funds to your payroll or nominated superannuation fund. Q How can I check if I have used up all my funds or reached my cap limit? You can check these details online through ‘My Account’ at www.remserv.com.au. If you do not have your login details please contact RemServ on 1300 30 40 10 or email email@example.com. Bright idea - salary package your electricity! As a Queensland Government employee, you are entitled to salary package your electricity bills up to $1,333.33 per annum, so with the new FBT year fast approaching, now is a great time to make the most of the benefits available to you! Download an application form from www.remserv.com.au or call 1300 30 40 10 to sign up immediately. Just remember to submit your form by March 16! Be prepared for the end of FBT year - March 2009! Q What happens if I send in too many claims for the cap amount I have left? Requests that cannot be processed in this FBT year will be set up for payment in the new FBT year (where funds and cap permit) unless you advise otherwise. Q I want to change my package for the next FBT year. When should this be sent in by? Requests for a package amendment to start in the new FBT year need to be submitted to RemServ by March 16 to allow for reporting to payroll. If you submit after this date your request may not be processed in time. Q What shows on my pay slip at the end of June? Your reduced taxable income (as a result of salary packaging) will be shown on your payslip as your gross taxable income. The total spent on salary packaged benefits will be displayed as reportable fringe benefit items. The total of the two are to calculate the following: • Medicare levy surcharge; • Rebate for contributions to spouse’s superannuation; • Superannuation surcharge; • Termination payments surcharge; • HELP/HECS repayments; • Child support obligations; and • Entitlement to certain income tested government benefits. Please note that the total reportable fringe benefits will be taken into account in the income tests for Family Tax Benefit, Child Care Benefit and Youth Allowance (parental income test). Q I have non-salary sacrificed benefits provided by my employer. Do I need to let you know? Yes. You need to let RemServ know the grossed up value of the benefit for the new FBT year (available from your employer) so that the appropriate cap adjustment can be made. If you do not let RemServ know, you may exceed your cap limit resulting in a possible FBT liability. Q I claim remote area entitlements, is there anything I need to do? As remote area concessions can only be applied in the current FBT year, your February statement must be submitted to RemServ by March 16 in order to be processed. Any amendments to your remote area entitlements should also be received by this date. Remote area entitlements are unable to be paid on your March statement. Q How do I know you’ve received my faxed request? All faxes sent to the general RemServ fax (1300 30 18 66) are electronically accessible by our contact centre, so you can email firstname.lastname@example.org or call the contact centre on 1300 30 40 10 to confirm receipt. All you need to provide is the time and date you sent the fax and the number of the sending fax machine. Unfortunately if you do not have these transmission details immediate confirmation of receipt is not available.
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