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Meal Entertainment
Save tax when you eat out with family and friends – available to employees of FBT exempt employers. Talk to us to find out more.
For those with an appetite for savings
There are some instances where you can package the cost of meals in restaurants and cafes, to ensure they’re tax-free. To make this easy to manage, talk to us about setting up a meals and accommodation card approved by the ATO.
For those with an appetite for savings
Our Meals and Accommodation Card is the easiest way to salary package a range of meals and drinks in restaurants, clubs, pubs – and save on tax if you are entitled to this benefit. Fully approved by the ATO, it works via a VISA debit card which can be used worldwide wherever VISA is accepted.
Advantages of using the card include:
· No need to submit claim forms or tax invoices
· It’s accepted around the world
· PayWave enables greater convenience when making purchases
Our provider, Beyond Bank, change a small monthly fee per card. The card must not be used for take-away, home delivery, or drive-through establishments. It is designed to be used in ‘sit down’ restaurants and may include alcohol as served with the meal. You may also use the card to pay for professional caterers to prepare and serve food (for a wedding reception or similar) and also to attend gala events and charity dinners.
We recommend you spend as much of your balance by 31st March each year, as any remaining balance will likely affect your maximum entitlement for the following year.
What you need to do, and what you should know:
· Nominate an amount up to a maximum of $2,650** (or as adjusted by the ATO from time to time) per FBT year (1st April to 31st March the following year).
· Contact us and we will arrange a card for you.
· We will arrange for your employer to deduct the amount from your pre-tax salary.
· This means you in effect receive $2,650** income tax-free!
· We will arrange for your card to be “topped up” by the amount ready for you to spend.
· These arrangements are typically calculated and done on a normal payroll cycle basis, eg weekly or fortnightly, however, can be done over a shorter period if you wish.
** It is important to realise this benefit is the same benefit as Holiday Accommodation and Venue Hire. That is, it is the same card and once you have the card you can use it on either benefit. The maximum of both benefits is a combined $2,650.
How Much Could I Save With Salary Packaging?
Using your pre-tax salary to pay for things allows you to increase your disposable income and pay less tax – often thousands of dollars less each year. There are dozens of items you can potentially salary package, but some depend on your employer and the industry they work in.
It’s all fully approved by the Australian Taxation Office, however it pays to seek specialist clarification from us to ensure you gain everything you’re entitled to, and make the process of setting up your package easy. You can use our calculators for indicative savings, or talk to us today to find out more and the next steps to take towards saving!
Calculate Your Savings
Save On Your New Car
Salary packaging your next car is a good decision; see how it can work for you. Call 1300 303 357 and speak to one of our friendly specialists.
Get In Touch!
Find out how much you can save on a new or used vehicle with a novated lease through SalaryMasters. Enter your details and we will get in touch with you shortly.
