May 7 2014
Reconciliations with Funds Roll Over
This year we are pleased to feature continuous Salary Packaging with Positive Balance Rollovers.
Package Reconciliations are currently underway to balance Deductions Vs. Payments for 2013-14 FBT Year for all Novated Lease and Salary Packaging customers. Any positive pre-tax balance that results from the Reconciliation will automatically rollover and be available for you to utilise in current 2014-15 salary packaging.
You will be issued with this advice shortly, along with instructions on how to view your Reconciliation Statement and how to request a positive balance be returned via payroll with PAYG tax applied, if preferred.
In the event that there is a negative balance that needs to be recovered, we will automatically action an initial recovery of (up to) $500. We will then contact you to make further repayment arrangements.