Worried you’re missing part of your refund? Remember, the low and middle income tax offset isn’t a refund on its own – it’s used to offset (or reduce) the amount of tax you pay. The offset amount you may be entitled to is automatically applied and could range between $255-$1080, depending on things like your taxable income and how much tax you’ve paid.
I have a novated lease through company A but my employer has chosen to have all our salary packaging managed by company B.
I've had the the lease with company A for two years (managed by company B) with the following breakdown and have had NO issues:
Pre-tax (ex GST): $330.29
GST on pretax: $33.03
Post-tax (ex GST): $219.92
GST on posttax: $21.99
We switched to company C on 1/4/21 (beginning of this FBT year). Since moving to company C, they are now charging me an addtional contribution GST on top of the GST posttax amount I am already paying. I have raised this with them and this was their response:
The vehicle budget total is $605.23 as you have stated, but Contribution GST is then calculated on the total Post-tax for the vehicle. $251.59 / 11: $22.87
As far as I can work out, they have added this up incorrectly (as I don't know where they are getting the $251.59 from) and are charging me an addtional GST contribution. Is this correct? Or are they correct in charging me 2 x posttax GST contributions?
I heard back from company A and they've agreed company C seems to be charging me the gst twice. Hopefully I can resolve this with company C! So far I have been unsuccessful with them understanding the issue, hence my question! I assume what's they've done is added my post tax contribution and post tax gst together then charged another post tax gst amount again. Thanks again!