AdvisorCorp

The Reserve Bank of Australia (RBA) has held the cash rate steady at 4.35 per cent during the March monetary policy meeting.

RBA schedule changes for 2024

Below is the expected schedule:
February - Tuesday 6th
March - Tuesday 19th
May - Tuesday 7th
June - Tuesday 18th
August - Tuesday 6th
September - Tuesday 24th
November - Tuesday 5th
December - Tuesday 10th

Ref- 2024 Reserve Bank Board Meeting Dates - Media Release

New salary packaging opportunities for electric cars

Late last year, the Federal Government introduced changes to the fringe benefits tax rules that offer a unique salary packaging opportunity that could offer you substantial savings.

Under these changes, a Fringe Benefits Tax (‘FBT’) exemption has been introduced in relation to employers providing current employees (or their associates, including spouses) with certain electric cars.

The NEW FBT exemption allows employees to enter into a salary sacrifice arrangement with their employer for the provision of an electric car without triggering any FBT liability. As such, employees can salary package the cost of lease payments, registration and other car running expenses with respect to an electric car from their pre-tax salary without FBT being payable.

Naturally, any salary packaging arrangements (including with respect to an electric car) will be reliant upon your employer agreeing to the request. We can assist you with making that request if you decide to take advantage of this opportunity.
Please organise an appointment via https://www.advisorcorp.com.au/meeting to discuss your eligibility.