Did you know…?
May 2022
Tech Talk.
Salary Packaging / Novated Leasing
Rebate – FBT Status
FBT Returns.
Our Employer customers are reminded to lodge their FBT return by 23 May 2022 unless they have an extension from the ATO.
The ATO states:
“If you have an FBT liability for the FBT year ending 31 March 2022, you must lodge an FBT return by 23 May 2022 (the usual due date of 21 May 2022 falls on a weekend). This applies unless:
- we accept a request you make for an extension of time to lodge
- a registered tax agent lodges your return electronically and meets our lodgement program requirements for FBT. Your registered tax agent must lodge by 27 June 2022 in this case (as the usual date of 25 June 2022 falls on a weekend).”
The full statement is available here.
Meal / Entertainment Benefit Digital Cards
Maximise your benefits with Paywise.
Did you know that if your employer offers the Meal Entertainment benefit, you can access your Paywise benefits via our digital card? You can make payments at any eligible retailers that accept Mastercard™ using your phone or smart watch!
This concept can be a bit scary to those who aren’t familiar with digital wallets, but whether you have an iPhone or an Android phone, it’s quite simple.
How does it work?
You can order and access your digital card via the Paywise App, so downloading the App from the Apple App Store or Google Play should be your starting point. From here, there are simple prompts to order your card then add it to your Apple Pay or Google Pay digital wallet.
It doesn’t matter if you already have one or more other cards (such as credit cards) stored in your digital wallet – you’ll just need to choose which you want as your default card.
Making Payments
If your Paywise card is set as your default, then just tap the payment terminal using your phone to make a payment. If your Paywise card isn’t your default you can still make a payment on it by opening the Apple Pay or Google Pay app, choosing the Paywise card and then tapping the payment terminal. It really is easy!
No need to submit claims!
For payments you made on your Paywise Card, you won’t need to submit reimbursement claims. Talk about making salary packaging easy!
Staff Spotlight.
Meet Judi Gardner
Judi is one of our Employee Benefits Consultants and is responsible for helping our members and employees of our employer customers with all things Salary Packaging.
When did you commence with Paywise?
March 2009
Why did you want to work with Paywise?
I was offered the position to join Paywise and was invited back in 2016 after I stopped work to care for my husband before he passed away.
What are your hobbies?
Walking with my 2 female dogs – short and long distance, cooking, dancing at pubs & having fun.
Tell us about your pets?
Yes – a 14 year old Labrador Spaniel KOBI and an 8.5 month old German shepherd pup (XENA is the love of my life now that I’m single – YAY!), 4 chooks, 1 cat called Leo and a lorikeet called Richie (after our famous All Black Captain Richie McCaw, of course!)
Favourite band and why?
Angels, Crowded House and Icehouse – they are all great to dance to.
Favourite movie or series and why?
Deadliest Catch – I used to be a deep sea fisherman in NZ and Tasmania and absolutely miss very much going to sea – so I just love, love this series!!
Product Developments.
POLES
The Paywise Owned Leasing Estimate System (POLES) was delivered to our Leasing team on 21 February this year by our internal IT capability.
Our new POLES system enables us to be in complete control of our Leasing platform and able to make alterations and improvements very quickly.
The new platform increases our ability to service your employees where our consultants use a far simpler user interface with intuitive navigation and secure data storage.
The POLES system also integrates with our member administration system, our underwriters’ APIs and our supplier’s vehicle data. It includes a simplified one-page estimate (as shown here) for our novated lease quoting which helps our customers to understand novated leasing without the distraction of unnecessary information.
Updates.
Top 10 novated lease cars in 2021.
As mentioned by Marc Sibbald in issue 355 of Fleet Auto News
Fleet Auto News compiled the annual list of top 10 novated lease car by surveying the main salary packaging and fleet management companies in Australia. The list is compiled each year to highlight which new makes and models are popular when using salary packaging.
The big thing impacting the rankings this year is vehicle supply which has led to lengthy wait times on a number of models. Industry representatives were cited as stating:
The top 5 manufacturers make up 48.5% of orders being Toyota (15.9%), Mazda (10.6%), Ford (8.6%), Mitsubishi (6.7%), and Hyundai (6.7%). The Subaru Outback was a stand-out performer this year, given sweeping upgrades across the range. SUVs and 4X4 vehicles dominated the top 10 list of novated lease cars last year.
The popularity of SUVs remained – in particular, the Mazda CX-5 and Toyota RAV4 and strong demand for such models as the Ford Ranger and Toyota Landcruiser show people are looking for outdoor adventures again after the lockdowns. Interestingly, there is a growing interest in EVs, with several hybrid models, whilst not in the top 10, certainly moving up the lists in popularity.
Novated drivers having more flexibility around pricing, are seeing a number of Utes, such as Hilux, Ranger, Triton and D-Max, being fitted with additional options.
Fleet Auto News mentioned that the top three vehicles were standout winners. The survey results placed them clearly ahead of the other vehicles in the list with the most overall nominations and a higher ranking with the nine companies that submitted data for the survey.
Here are the top 10 novated lease cars delivered in Australia during 2021:
- 1. Ford Ranger
- 2. Toyota RAV4
- 3. Mazda CX-5
- 4. Toyota HiLux
- 5. Toyota Landcruiser Prado
- 6. Mitsubishi Triton
- 7. Hyundai i30
- 8. Toyota Landcruiser
- 9. Isuzu D-MAX
- 10. Mazda3
Tips and Hints.
Your novated lease surplus funds.
Did you know that you can claim allowable costs back before the end of your lease by using any surplus funds or you can increase your packaging before lease end to get the car looking as good as it can before sale or full ownership?
If you or your employees would like to know more, they can contact Paywise on 1300 132 532.
Member Spotlight.
Brittney, took possession of a used Toyota Landcruiser Prado GDJ150R GXL Wagon 7st 5dr Sports Auto 6sp 4×4 2.8DT and said:
“Thank you for all your support and hard efforts, you’ve been wonderful. I appreciate everything.”
Commendation and praise to Judi and Scott from the Paywise team who assisted Brittney with this Novated Lease.
Karl, took possession of a used Volkswagen Amarok and passed on this message:
“Thank you for all your assistance, (especially Scott), it has been a great experience which I sincerely appreciate. Thanks again.”
Commendation and praise to Scott from Paywise who assisted Karl with this Novated Lease.
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