For many, the arrival of the Australian summer signals one important milestone of the year – the chance to take a well-deserved break! For those who plan on doing some travelling and dining out during this time, we’ve put together some tips for making the most of your salary packaging benefits.
Hang on to your accommodation and dining receipts
Or, to be specific, the tax invoices. That’s because you can claim your accommodation and dining invoices as part of the $2,650 holiday accommodation and meal entertainment benefit. This limit is on top of the $15,900 cap for general expenses (such as mortgage, rent, credit card and school fees).
Remember that your salary packaging arrangements relate to tax. As such, submitting the proper documentation is important. You’ll need a copy of the tax invoice, which is easy to ask for. Most hotels and resorts provide a copy once the stay is paid for. Restaurants will also provided the itemised invoice – just make sure you get the copy of the actual bill showing the meals, not just the card payment docket!
Claiming is easy – you can start immediately
Paid for your upcoming trip and have a copy of the invoice? GO Salary members can go ahead and submit a claim straight away! It’s easy to do – simply log in and head to the My Salary Package page. Hit the Add Accommodation/Meals Receipts button and follow the steps. You’ll be done in a minute or two.
If you’re using your smartphone, you can simply snap a photo of the invoices when uploading. It’s also good idea to bundle your expenses together – so if you’ve incurred costs for accommodation and a bunch of meals out, they can be done in the one claim.
Heading overseas?
Yes – overseas expenses can also be claimed! However, you will still need to submit a copy of the invoice. You’ll also need to provide the $AUD (based on the day of the purchase) with your claim. That’s usually easy to find by looking at your credit/debit card statement.
The Meal Entertainment Card
Those with a meal entertainment card don’t need to submit claims or provide any invoices. Because everything is administered electronically, the only thing cardholders need to do is tap! As the card is a Visa, it can be used overseas.
If you have a card, just remember to keep an eye on the balance. As the card won’t let you go into the negative, you’ll need to make sure there’s enough of a balance before looking to pay for a larger expense like a week-long hotel stay.
If requested, we can increase the card payments ahead of your holiday, and then reduce future deductions, so that you stay within the $2,650 cap.
Remember, 31 March isn’t far away…
The $2,650 limit must be claimed and paid (as in, deducted from your pay and then reimbursed to you) by 31 March each year. This is because the new reporting year commences on 1 April. So, if you’re wanting to put a claim in, please don’t leave it too late. Especially if wanting to claim a larger amount, it might need to be spread out over a few pays depending on your earnings.
Want to learn more?
We have plenty of fact sheets, please check them out! Online claims and card ordering is super easy for members to do on the My Salary Package page in the portal. Members can also get in touch directly with their Care Manager via the secure GO Salary inbox, or give us a call.