Jun 23 2016
Help Employees Save More While They’re on Holiday
Save money! No effort required! Holiday! Trigger words! Yeah, I obviously studied Marketing.
Good news, this isn’t even a gimmick. I just like trigger words. Anyway, yeah, let’s discuss saving money and holidays.
Novated Lease unavailability is industry terminology describing the process whereby if your employee does not have use of their vehicle for a period of time, they may be able to declare unavailability. Put simply, the FBT (fringe benefits tax) liability will be reduced by any days deemed as being unavailable.
Okay, so that’s not put simply. Let’s try again. Remember: Save money… No effort required… Holiday… Ahem, just keep reading…
So, if they go on holiday, and they park their car at the office (note: you as the employer needs to hold the keys), they may not be required to accrue FBT on their vehicle while you’re away.
There you go. You’re welcome. Oh, and to record their unavailability they simply login into their account via this link: http://www.remunerator.com.au/