Overheard. Near the potato section at supermarket today.
Blonde mum 1
"And then there's the school fees"
Blonde mum 2
"Yes, and the rest. Fiona had to get a laptop for VCE. Oliver got jealous and demanded one too. Luckily we got Rudd to pay for it. We both salary sacrificed a laptop"
Under Fringe Benefits Tax legislation one laptop or notebook computer can be provided per employee per FBT year without incurring Fringe Benefits Tax where that laptop is primarily for use in the employee’s employment. The FBT year runs from 1st April until 31st March in the next year.
All laptop computers purchased after 13th May 2008 need to be used primarily for use in the employee’s employment to be exempt from Fringe Benefits Tax.
The salary sacrifice request form includes a declaration from the employee that the laptop relating to the salary sacrifice request is primarily for use in their employment. This documentation and declaration will be held on file should an audit be undertaken by the Australian Taxation Office.