The end of FBT year (EOFBTY) is an important and exciting time for your salary packaging, but it can also be a confusing time as well. This list of frequently asked end of FBT year questions sets out important information you need to know!
What are the key dates this FBT year?
- Current 2023-24 Fringe Benefits Tax year ends: Sunday 31 March 2024
- Recommended date to submit claims 2023-24 FBT year: Monday 25 March 2024
- Next 2024-25 Fringe Benefits Tax year starts: Monday 1 April 2024
Can I manage my account myself?
You can submit claims, view your transactions and balances, access the ‘Cap Tracker’ function, and view your details using your online account in the RemServ app or through RemServ Online.
How do I access RemServ Online?
To access your account, click on ‘My Account’ located at the top right corner of our website, and follow the prompts to log in.
With EOFBTY fast approaching on 31 March, do I still have time to spend and claim?
Yes!
EOFBTY is on 31 March. You may take advantage of your available FBT exemption cap limit before the new FBT year commences on 1 April 2024.
How do I claim?
You may submit your claims online with RemServ using the RemServ app or via RemServ Online.
RemServ app
The RemServ app lets you make claims anywhere, anytime from your mobile device. With built in camera functionality, all you need to do is click, claim and go!
Please note: To use the app you must be registered for RemServ Online.
RemServ Online
Our RemServ Online portal is a secure, simple and fast way to claim. Simply log in to your RemServ Online account to submit your claims, view your transactions and balances, update your account and more.
If you're new to RemServ Online, simply click on the ‘Register now’ button and follow the prompts to get started!
When do I need to claim by?
To beat the EOFBTY rush, we recommend submitting your claims by Monday 25 March 2024 to ensure they’re counted towards your 2023-24 FBT year cap.
How long does it take for changes to my salary packaging contributions to take effect?
Changes can take up to two pay cycles to take effect. For any changes to your salary packaging contributions, please note we’ll work closely with your payroll team to finalise your request as soon as possible.
What happens if I don’t spend or claim the available funds in my RemServ account by the end of the current FBT year?
At RemServ, we understand our customers don’t always spend and claim the available funds in their RemServ account before the EOFBTY on 31 March.
Firstly, it’s important to note you won’t lose this money, with any unspent amounts remaining in your RemServ account after 31 March set to ‘roll over’ into the next FBT year.
However, once the new FBT year commences on 1 April, the cap resets so when you do spend or claim the available funds, they will be reported and deducted from the cap limit during the new FBT year.
What happens if I don’t spend my full available cap limit by the end of the FBT year?
Please note that once your cap limits reset in the new FBT year, any of your unused cap limits from the previous FBT year will not be rolled over for you to use in addition to your new FBT year cap limits.
How will I know if I hit my cap early?
When your salary packaging account reaches your FBT exemption cap limit early, RemServ will notify you via the email address registered on your RemServ account, prior to the end of the FBT year, with the available options you can consider taking to manage your account.
Should this happen, please note all your ongoing payments will be placed on hold. They will automatically resume on your first regular payment date that falls after the new FBT Year commences on 1 April.
What happens to my regular payments if I hit my cap early?
If you hit your cap early, we’re unable to make automatic catch up payments for amounts you’ve missed while your regular payments are on hold, including home loan and rental expenses. During this time, please make alternative arrangements to manage your account and relevant expenses until the new FBT year commences on 1 April.
Please also note this won't affect payments to benefits which fall outside your limit, such as additional superannuation contributions, work-related expenses and/or portable electronic devices.
If I hit my cap early, what will happen to my salary packaging contributions?
Once you hit your FBT exemption cap, unless otherwise directed by you, your salary packaging contributions will continue to be deducted from your pay for the remainder of the current 2023-24 FBT year which will accumulate in your RemServ account.
If you use these funds in the new FBT year (1 April 2024 – 31 March 2025), please note they will count towards your new FBT year exemption cap limit.
Once I hit my cap, can I claim additional FBT exempt items?
Depending on your employer, in addition to claiming against your eligible benefits, you may be able to salary package and claim a great range of FBT exempt items from your pre-tax salary each FBT year.
Visit RemServ Online, click on 'Documents & Forms', 'Benefit Fact Form' and then open the 'FBT Exempt Benefit Item Fact Sheet' to understand the range of FBT exempt benefits available to you.
Where can I see how much I’m eligible to claim for through my salary packaging arrangement?
Check out the range of benefits you could be eligible to package by visiting RemServ Online, click on 'Documents & Forms', 'Benefit Fact Form' and then open the 'FBT Exempt Benefit Item Fact Sheet'.
How can I contact RemServ during EOFBTY?
EOFBTY can be a busy time for us, and to help you get in touch with us during this time, we have a number of options available for you to choose from:
- Log into your account via the RemServ app
- Log in to your RemServ Online account, select Help from the menu bar, and then click on the 'Contact Us' tab to submit an enquiry.
- Visit our RemServ website to connect with us via livechat
- Email us at [email protected]
This material is general advice only. It does not take into account your particular/personal objectives, personal financial situation or personal financial circumstances.