Salary packaging can help you save through the holidays. Here are some tips on how:
Go shopping with your Living Expenses Card!
Remember, if you’re salary packaging your tax-free cap, you have until 31 March to spend your funds in order to maximise your savings. Use your card over the holiday period to shop for groceries or even Christmas presents!
Use your Meal Entertainment Card at Christmas
Christmas is traditionally a time of excess, with plenty of good food on the table! So if you’re packaging meal entertainment, it’s a great opportunity to save!
If you’re headed out with family, friends or colleagues for a meal over the holiday period, you can use your Meal Entertainment Card. Depending on who you work for, a catered Christmas lunch could also be packaged (check your employer’s policy on our website).
But remember – take away meals don’t qualify as meal entertainment, so you have to be eating at a restaurant with a dine-in facility to meet the criteria defined by the ATO. One more thing – you or your spouse have to incur the cost of the meal, otherwise you can’t claim the cost as meal entertainment.
Drive your Novated Lease over the holidays
If you’re headed away for Christmas or for a summer holiday, we know many of you will probably drive your packaged car. It’s a great way to save tax on your fuel and servicing costs – and of course, we encourage you to please take care on the roads!
If you have any questions about salary packaging over the holidays, feel free to leave them in the comments section and we’ll do our best to answer.
I’d like to wish you all a very happy holiday season and prosperous New Year! Thanks so much for your incredible loyalty . . . we really do hope to be as good to you as you’ve been to us!