Salary sacrifice

I cant offer advice because im in the same boat but i can say that while i was in brissy recently i overheard a lady racking up a huge bill at the counter at lifecycle (over $10,000) and then she mentioned the magical 'salary sacrifice' words and i quitely swore under my breath.

Euan said:

My employer offers salary sacrifice for super and cars. My theory is
that if they can justify salary sacrifice for cars then there should be
no reason why salary sacrifice can't be justified for bicycles.

Has anyone had success with this sort of thing? Any advice on the best
tack to take?
--
Cheers
Euan

Euan said:

My employer offers salary sacrifice for super and cars. My theory is
that if they can justify salary sacrifice for cars then there should be
no reason why salary sacrifice can't be justified for bicycles.

Has anyone had success with this sort of thing? Any advice on the best
tack to take?
--
Cheers
Euan

There is a very good reason why salary sacrifice can't be justified for bicycles - they are not mentioned in the Fringe Benefits Tax Act.
You will have to ask John Howard to change the Fringe Benefits Tax Act first!

"Euan" <[email hidden]> wrote in message
news:[email hidden]...

Quoted message said:

My employer offers salary sacrifice for super and cars. My theory is
that if they can justify salary sacrifice for cars then there should be
no reason why salary sacrifice can't be justified for bicycles.

Has anyone had success with this sort of thing? Any advice on the best
tack to take?

Hmmm.. now you've got me thinking!!..

cheers,
GPL

Quoted message said:

Quoted message said:

Quoted message said:

>> "coppershark" == coppershark <[email hidden]> writes:

coppershark Euan said:

Quoted message said:

My employer offers salary sacrifice for super and cars. My
theory is that if they can justify salary sacrifice for cars then
there should be no reason why salary sacrifice can't be justified
for bicycles.

Has anyone had success with this sort of thing? Any advice on
the best tack to take? -- Cheers Euan

coppershark> There is a very good reason why salary sacrifice can't
coppershark> be justified for bicycles - they are not mentioned in
coppershark> the Fringe Benefits Tax Act. You will have to ask John
coppershark> Howard to change the Fringe Benefits Tax Act first!

Oh bugga. Strike cunning plan to get new bike :-(
--
Cheers
Euan

coppershark said:

Quoted message said:

My employer offers salary sacrifice for super and cars.

There is a very good reason why salary sacrifice can't be justified for
bicycles - they are not mentioned in the Fringe Benefits Tax Act.

So my company can buy me bicycles with no problem with FBT ?!
Mmmmm... new Ti delivery bike 🙂

-kt

--
Kingsley Turner,
(mailto: [email hidden])
http://MadDogsBreakfast.com/ABFAQ - news:aus.bicycle Frequenly Asked Questions

in the mid 90's i scored a job for the first time in the evil CBD.
T'was bit sceptical about it but the job and bucks were good so took it on.
Soon discovered how cool the city was, but part of my package was a carparking spot, as i had always worked in (advertising) in Sth Melb, richmond or StK Rd with free parking.

Months slipped by and the parking spot was never organised...
I was catching trams to begin with and then started riding after knee reco's.
Anyway's, the boss asks "What's the carpark like that Im in?"
"Dunno. you never arranged it for me!"

The carpark was worth (then) about $3500 so i had a flash of brilliance and pitched my evil plan...

"Howabout we forget the yearly carpark fee and you gimme a one-off payment of $4K so I can buy a super-commuter and all related gear and gym membership so I can shower/change/etc?"

Well, he 'bought' it!!! I got new bike (Its still my slicked up commuter with racks/panniers and lights that still burn bright).

I guess that's not FBT or 'package' related but perhaps its all in the sales pitch? both parties get what they want nd so does society. winner i say...

quote='kingsley'On Wed said:

Quoted message said:

My employer offers salary sacrifice for super and cars.

There is a very good reason why salary sacrifice can't be justified for
bicycles - they are not mentioned in the Fringe Benefits Tax Act.

So my company can buy me bicycles with no problem with FBT ?!
Mmmmm... new Ti delivery bike 🙂

-kt

--
Kingsley Turner,
(mailto: [email hidden])
http://MadDogsBreakfast.com/ABFAQ - news:aus.bicycle Frequenly Asked Questions[/QUOTE]

Unfortunately, if it _isn't_ mentioned specifically for FBT, it means it _attracts_ FBT at the highest rate. This means your salary sacrifice will be completely eaten up by FBT, leaving you no better or worse off. I tried this one out already...

Ritch

Quoted message said:

Quoted message said:

Quoted message said:

>> "flyingdutch" == flyingdutch <[email hidden]> writes:

flyingdutch> "Howabout we forget the yearly carpark fee and you
flyingdutch> gimme a one-off payment of $4K so I can buy a
flyingdutch> super-commuter and all related gear and gym membership
flyingdutch> so I can shower/change/etc?"

flyingdutch> Well, he 'bought' it!!! I got new bike (Its still my
flyingdutch> slicked up commuter with racks/panniers and lights that
flyingdutch> still burn bright).

Inspiring stuff. Unfortunately I'm government so doubt I'll be able to
swing that.

Very cool though :-)
--
Cheers
Euan

Euan said:

Quoted message said:

Quoted message said:

>>>"coppershark" == coppershark <[email hidden]> writes:

coppershark Euan said:

Quoted message said:

My employer offers salary sacrifice for super and cars. My
theory is that if they can justify salary sacrifice for cars then
there should be no reason why salary sacrifice can't be justified
for bicycles.

Has anyone had success with this sort of thing? Any advice on
the best tack to take? -- Cheers Euan

coppershark> There is a very good reason why salary sacrifice can't
coppershark> be justified for bicycles - they are not mentioned in
coppershark> the Fringe Benefits Tax Act. You will have to ask John
coppershark> Howard to change the Fringe Benefits Tax Act first!

Oh bugga. Strike cunning plan to get new bike :-(

Something tells me that people have been getting computers under this
scheme, so you buy a computer(bicycle of course) and OH&S approved safe
moving device (bicycle) {:-).

Euan said:

Quoted message said:

Quoted message said:

>>>"flyingdutch" == flyingdutch <[email hidden]> writes:

flyingdutch> "Howabout we forget the yearly carpark fee and you
flyingdutch> gimme a one-off payment of $4K so I can buy a
flyingdutch> super-commuter and all related gear and gym membership
flyingdutch> so I can shower/change/etc?"

flyingdutch> Well, he 'bought' it!!! I got new bike (Its still my
flyingdutch> slicked up commuter with racks/panniers and lights that
flyingdutch> still burn bright).

Inspiring stuff. Unfortunately I'm government so doubt I'll be able to
swing that.

Very cool though :-)

Naah, it just depends as to what is on the docket, or dockets {:-)

Can you get a "two wheel trolley"?

If you get really stuck, can you swing a "business trip" to a conference
with a free bicycle?

Request: "we (local office manager) have this surplus in one of our
project budgets that we need to spend by June 30th, or we loose it back
to consolidated revenue. We want to buy another computer.

Problem: total assest freeze in government at time.

Ring my boss and say "John has some funds that he wants to use to
upgrade some of his computers, who replies "if it is his money, then he
can do it.

John makes a few orders and uses up surplus funds and everyone is happy.

A few months down the track 'ring ring' and its my boss; "you haven't
sent up those parts you upgraded.

Err, what parts?

My boss rattles off the invoice number and parts.

Oh, yes, if you add those invoices together, what do you get?

Stunned silence - "but there is an asset freze on. You are not allowed
to buy any computers"

Me: I didn't buy any computers, I repaired three computers!

The next five minutes was sent arguing about how /if it could be added
to the assets register, which ended by me asking if any of the "old
spare parts" in the storage room were on the assets register.

Welcome to Liar and Deshonky tax accountants 😄

I love your work, creativity is an artform.

quote='Terry Collins'Euan said:

Quoted message said:

Quoted message said:

>>>"flyingdutch" == flyingdutch <[email hidden]> writes:

flyingdutch> "Howabout we forget the yearly carpark fee and you
flyingdutch> gimme a one-off payment of $4K so I can buy a
flyingdutch> super-commuter and all related gear and gym membership
flyingdutch> so I can shower/change/etc?"

flyingdutch> Well, he 'bought' it!!! I got new bike (Its still my
flyingdutch> slicked up commuter with racks/panniers and lights that
flyingdutch> still burn bright).

Inspiring stuff. Unfortunately I'm government so doubt I'll be able to
swing that.

Very cool though :-)

Naah, it just depends as to what is on the docket, or dockets {:-)

Can you get a "two wheel trolley"?

If you get really stuck, can you swing a "business trip" to a conference
with a free bicycle?

Request: "we (local office manager) have this surplus in one of our
project budgets that we need to spend by June 30th, or we loose it back
to consolidated revenue. We want to buy another computer.

Problem: total assest freeze in government at time.

Ring my boss and say "John has some funds that he wants to use to
upgrade some of his computers, who replies "if it is his money, then he
can do it.

John makes a few orders and uses up surplus funds and everyone is happy.

A few months down the track 'ring ring' and its my boss; "you haven't
sent up those parts you upgraded.

Err, what parts?

My boss rattles off the invoice number and parts.

Oh, yes, if you add those invoices together, what do you get?

Stunned silence - "but there is an asset freze on. You are not allowed
to buy any computers"

Me: I didn't buy any computers, I repaired three computers!

The next five minutes was sent arguing about how /if it could be added
to the assets register, which ended by me asking if any of the "old
spare parts" in the storage room were on the assets register.[/QUOTE]

Terry Collins said:

Euan said:

Quoted message said:

>>>> "flyingdutch" == flyingdutch
>>>> <[email hidden]> writes:

flyingdutch> "Howabout we forget the yearly carpark fee and you
flyingdutch> gimme a one-off payment of $4K so I can buy a
flyingdutch> super-commuter and all related gear and gym membership
flyingdutch> so I can shower/change/etc?"

flyingdutch> Well, he 'bought' it!!! I got new bike (Its still my
flyingdutch> slicked up commuter with racks/panniers and lights that
flyingdutch> still burn bright).

Inspiring stuff. Unfortunately I'm government so doubt I'll be able to
swing that.

Very cool though :-)

Naah, it just depends as to what is on the docket, or dockets {:-)

Can you get a "two wheel trolley"?

If you get really stuck, can you swing a "business trip" to a conference
with a free bicycle?

Request: "we (local office manager) have this surplus in one of our
project budgets that we need to spend by June 30th, or we loose it back
to consolidated revenue. We want to buy another computer.

Problem: total assest freeze in government at time.

Ring my boss and say "John has some funds that he wants to use to
upgrade some of his computers, who replies "if it is his money, then he
can do it.

John makes a few orders and uses up surplus funds and everyone is happy.

A few months down the track 'ring ring' and its my boss; "you haven't
sent up those parts you upgraded.

Err, what parts?

My boss rattles off the invoice number and parts.

Oh, yes, if you add those invoices together, what do you get?

Stunned silence - "but there is an asset freze on. You are not allowed
to buy any computers"

Me: I didn't buy any computers, I repaired three computers!

The next five minutes was sent arguing about how /if it could be added
to the assets register, which ended by me asking if any of the "old
spare parts" in the storage room were on the assets register.

My understanding (I am not boring enough to be an accountant) is that
cycles and motorcycles are not subject to FBT so the boss wins two ways!

Euan said:

My employer offers salary sacrifice for super and cars. My theory is
that if they can justify salary sacrifice for cars then there should be
no reason why salary sacrifice can't be justified for bicycles.

Has anyone had success with this sort of thing? Any advice on the best
tack to take?
--
Cheers
Euan

I guess the other option is, that if you happen to be able to get a car through salary sacrafice, talk to the car dealer, especially if you know someone, they are always keen to make a sale, im sure they would welcome the idea of somehow packaging your favoured bike into the package or organising the quote one way or another.

there are lots of options there, as long as they get the sale, that is all they care about, its all about numbers in car sales, my father being in the business for the last 40 years has done similar things.

the other option of course is to start your own business! amazing what can be used for advertising purposes.

Euan <[email hidden]> wrote in news:[email hidden]:

Quoted message said:

Quoted message said:

Quoted message said:

>>> "flyingdutch" == flyingdutch
>>> <[email hidden]> writes:

flyingdutch> "Howabout we forget the yearly carpark fee and you
flyingdutch> gimme a one-off payment of $4K so I can buy a
flyingdutch> super-commuter and all related gear and gym
membership flyingdutch> so I can shower/change/etc?"

flyingdutch> Well, he 'bought' it!!! I got new bike (Its still my
flyingdutch> slicked up commuter with racks/panniers and lights
that flyingdutch> still burn bright).

Inspiring stuff. Unfortunately I'm government so doubt I'll be able
to swing that.

Very cool though :-)

Most governments are supposed to be encouraging cycling for commuting.
So why not try writing to your DG and suggesting that you are keen to
commute but that you can't afford to use your existing expensive road
race bike for that purpose and the only thing holding you back is that
you can't salary sacrifice (?) to obtain appropriate equipment.

Might be worth a go.

Cheers
BrettM

Euan said:

My employer offers salary sacrifice for super and cars. My theory is
that if they can justify salary sacrifice for cars then there should
be no reason why salary sacrifice can't be justified for bicycles.

The Australian Tax Office.

Theo

Euan said:

My employer offers salary sacrifice for super and cars. My theory is
that if they can justify salary sacrifice for cars then there should be
no reason why salary sacrifice can't be justified for bicycles.

Has anyone had success with this sort of thing? Any advice on the best
tack to take?

It won't happen. Cars and super are listed as things that do not attract
FBT, or attract it at a discounted rate, so it's worthwhile to do it.
Bikes aren't -- so it's not. Nice try, but it won't happen.

--
My Usenet From: address now expires after two weeks. If you email me, and
the mail bounces, try changing the bit before the "@ to usenet".

Terry Collins said:

Something tells me that people have been getting computers under this
scheme, so you buy a computer(bicycle of course) and OH&S approved safe
moving device (bicycle) {:-).

The rules related to salary sacrifice for computers are simple: it must
have a built in display, and be capable of operating without mains power
for a period of time. (probably at least an hour.) In other words:
laptops and PDAs only. Not desktops, unless you can find a dodgy dealer
who'll list the desktop as a "laptop" -- but then, if you're audited (or
he's audited), you could be up for penalties for lying to tho tax
office.

Feel free to try; just don't expect it to be pulled off without a hitch.

--
My Usenet From: address now expires after two weeks. If you email me, and
the mail bounces, try changing the bit before the "@ to usenet".

Stuart Lamble said:

Terry Collins said:

Something tells me that people have been getting computers under this
scheme, so you buy a computer(bicycle of course) and OH&S approved safe
moving device (bicycle) {:-).

The rules related to salary sacrifice for computers are simple: it must
have a built in display, and be capable of operating without mains power
for a period of time. (probably at least an hour.) In other words:
laptops and PDAs only. Not desktops, unless you can find a dodgy dealer
who'll list the desktop as a "laptop" -- but then, if you're audited (or
he's audited), you could be up for penalties for lying to tho tax
office.

Feel free to try; just don't expect it to be pulled off without a hitch.

So I could salary sacrifice a bike computer? Ooooh under that definition
I could probably go the top of the line Polar HRM or a garmin GPS. WooHoo!

DaveB "grasping at the only chance at ever getting those toys"

Stuart Lamble said:

Terry Collins said:

Something tells me that people have been getting computers under this
scheme, so you buy a computer(bicycle of course) and OH&S approved safe
moving device (bicycle) {:-).

The rules related to salary sacrifice for computers are simple: it must
have a built in display, and be capable of operating without mains power
for a period of time. (probably at least an hour.) In other words:
laptops and PDAs only. Not desktops, unless you can find a dodgy dealer
who'll list the desktop as a "laptop" -- but then, if you're audited (or
he's audited), you could be up for penalties for lying to tho tax
office.

Feel free to try; just don't expect it to be pulled off without a hitch.

My cycle computer has a built in display and is capable of operating
without mains power for a period of time.

Tam