FBT Health & Charity FAQs

What happens if I reach my Salary Packaging or Meal Entertainment cap limit early?

Maxxia will keep track of your salary packaging payments and notify you if you reach your cap limit earlier than expected.

At the point you reach your cap limit, we will cease your deductions and postpone any further payments towards the relevant benefits until the new Fringe Benefits Tax (FBT) year begins on 1 April 2024. This doesn’t affect payments to benefits which fall outside the cap limit, such as additional superannuation contributions, laptops and work-related expenses (for those customers eligible to salary package these items).

The most common reason why you may reach your limit early is due to salary packaging expenses that include GST, such as retail purchases. If you allocate your full cap to Mortgage, Rent, Loan or the Maxxia Wallet, you may be able to avoid unexpectedly reaching your cap early.

IMPORTANT INFORMATION: The general information in this page does not take into account any of your personal or financial circumstances. For advice specific to your personal or financial circumstances, please seek your own professional independent tax or financial advice.

Do I need to claim my Venue Hire and Meal Entertainment balance?

You can claim and/or spend up to a combined cap limit of $2,650 each FBT year for Venue Hire and Meal Entertainment. Both benefits fall under the one cap limit.

You can also decide to package venue hire alone. The cap limit of $2,650 still applies each FBT year.

Venue Hire allows you to claim holiday accommodation or venues hired out for events.

Maxxia must receive any final claims for Venue Hire and Meal Entertainment by Monday 25 March 2024 to ensure they’re part of your 2023/24 Fringe Benefits Tax (FBT) year spend.

Is there anything I cannot buy with my Meal Entertainment funds?

Meal Entertainment cannot be used for purchasing the following items.

Meals or drinks from venues on-site (at your workplace)
Alcohol, unless it is consumed when dining out with friends or family
Groceries
Takeaway and home delivered meals such as Uber Eats

What if I don’t spend or claim my full Salary Packaging or Meal Entertainment limit within the FBT year?

If you don't spend your full Salary Packaging or Meal Entertainment limit before midnight 31 March 2024, you will not lose this money.

The balance will stay on your account for you to use in the new FBT year, which begins on Monday 1 April 2024. However, these funds will form part of your new cap, which means you may lose the potential tax savings on the cap limit you have not used from the previous FBT year.

For example, if you work in the Health sector and have $100 unspent from the 2023/24 FBT year, the maximum new deductions for capped benefits for the 2024/25 year will be $8,910, rather than $9,010.

Don’t forget to spend/claim your capped benefits!

Which expenses can I salary package on top of the cap limits?

Depending on your employer, there may be benefits you could salary package that don’t impact the Living Expenses or Meal Entertainment caps.

These could include:

Disability / income protection insurance premiums
Work related expenses such as phone, tablet or laptop computers
Professional memberships
Self-education expenses
A novated lease and more!

It's worth finding out if there are other benefits you could salary package in case you're missing out on more potential savings.

When will I have my final Maxxia Wallet card payment?

Remember that payments to the Maxxia Wallet card stop one pay early each FBT year.

To provide you with extra time to spend your remaining balance before the end of the FBT year, the Maxxia Wallet card annual budget is spread over one less pay each FBT year, so no Maxxia Wallet payment will be made from your last pay in March.

The 'Your Benefit Summary' email will be sent to you to confirm when your deduction has stopped for the FBT year.

Your cap limit has not changed - it's the same annual budget, just over one less pay cycle.

How can I spend my Maxxia Wallet card balance?

Sunday 31 March 2024 is the final date for spending funds on your Maxxia Wallet card, so spend your balance before then to maximise your potential tax savings. Some vendors and financial institutions may take a few days to process transactions, so make sure you spend your balance before Sunday 31 March 2024. Maxxia is not responsible for any delays in processing by vendors or financial institutions.

If you have any unspent funds remaining on your Maxxia Wallet card at midnight 31 March 2024, you will not lose this money.

The balance will stay on the card for you to spend in the new FBT year, which begins on Saturday 1 April 2023. However, these funds will form part of your new cap, which means you may lose the potential tax savings on the cap limit you have not used from the previous FBT year.

Here are some ideas to help reduce the balance on your card:

Give your other banking cards a rest and use your Maxxia Wallet card as much as you can throughout January, February and March!
You can use your Maxxia Wallet card to buy a gift card which can then be used at a later date, while still reducing your balance. Note: this applies to Living Expenses only.
Why not pre-pay some bills? This is another simple way to reduce the balance on your card as much as possible before 31 March. Note: this applies to Living Expenses only.

How do I contact Maxxia during the EOFBTY?

While we aim to do our absolute best, the EOFBTY period can mean extended call-wait times. We recommend the following ways of contacting us during this time.

Check out more info at maxxia.com.au/fbt-year-end
View your account via Maxxia Online
Chat with us on LiveChat |
Email us at [email protected] or for novated lease inquiries [email protected]
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