Remunerator News

Feb 22 2016

Update your Odometer Reading now!

The FBT year end is approaching and in order to ensure that you have your i’s dotted and your t’s crossed, you need to take action now!

For those of you with a Novated Lease, it’s important that you update your Odometer Reading now, especially if you entered into your Novated Lease prior to 10 May 2011. As all FBT due on your Novated Lease is finalised on the 31st of March, your Odometer Reading as at this date will determine any FBT liability you may have incurred. Our advice is …. ACT NOW!

If you entered into your Novated Lease from 10 May 2011 onwards, FBT is subject to a flat Statutory Rate of 20%. Whilst your Odometer Reading is not essential, notifying us will assist in ensuring that your budget for running expenses is on track.

Updating your Odometer Reading is simple.

Log into your My Statements via our website on www.remunerator.com.au or alternatively you can update your Odometer Reading via our smartphone app.