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The end of salary sacrificing for laptops
LordBug 
16/5/08 9:34:00 AM
Immortal

To those that were planning on doing it, too late.
To those that got in before the 13th of this month, congrats.
To all of it, alas.
http://www.budget.gov.au/2008-09/content/overview/html/overview_26.htm
Namely:
removing the FBT exemption for work related items used mainly for private purposes such as laptops

A bit of a shame that it's been removed. I'm glad I got my laptop in November under SalSac. Would've been really unhappy if I'd held off this long.


Edited by LordBug: 17/6/2008 08:25:11 AM

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stadl 
16/5/08 11:03:35 AM
SuperHero
Titan


I was planning on ordering a laptop under sal/sac this week.

Damn HP for delaying their Australian release of the 2133 from the 9th to the 15th.

Given I can't sal/sac, I'm less forgiving of their excessive price gouging, and will probably go back to my plan of importing from overseas.


Edited by stadl: 17/6/2008 08:48:49 AM

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Jeruselem 
16/5/08 11:06:38 AM
Overlord

I'm lucky, I've got the hand on the IT budget at work.

I buy laptops from our suppliers at wholesaler prices and then staff members
just get the price of the laptop deducted from their pay. Yes they pay GST.


Edited by Jeruselem: 17/6/2008 1:44:13 PM

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The Fuzz damn you! 
16/5/08 3:38:15 PM
Mod
Hero

Immortal


I'd imagine it'd still be fine to salary sacrifice a laptop provided you can demonstrate that you use it primarily for "business use".

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m0zes 
17/5/08 1:02:17 PM
Champion
Frankly i can't blame the government for doing this, as it's a great tax loop hole. However as fuzz suggests so long as it's for work purposes it's not an issue, if it isn't then you simply pay fridge benefits tax on it - the purchase still works out slightly better off this way. Just not near as well as the previous system.

cheers

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rokape 
17/6/08 1:49:08 AM
Primarch

Quote by LordBug
To those that were planning on doing it, too late.
To those that got in before the 13th of this month, congrats.
To all of it, alas.
http://www.budget.gov.au/2008-09/content/overview/html/overview_26.htm
Namely:
removing the FBT exemption for work related items used mainly for private purposes such as laptops

A bit of a shame that it's been removed. I'm glad I got my laptop in November under SalSac. Would've been really unhappy if I'd held off this long.



It doesn't mention anything about the 13th of the month.

Why are you saying that the FBT is screwed ?

I thought the financial year ends at end of month?

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" never let the truth get in the way of a good story..."

Fat_Bodybuilder 
17/6/08 7:55:18 AM
Titan

Quote by LordBug
To those that were planning on doing it, too late.
To those that got in before the 13th of this month, congrats.
To all of it, alas.
http://www.budget.gov.au/2008-09/content/overview/html/overview_26.htm
Namely:
removing the FBT exemption for work related items used mainly for private purposes such as laptops

A bit of a shame that it's been removed. I'm glad I got my laptop in November under SalSac. Would've been really unhappy if I'd held off this long.



Testing.

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LordBug 
17/6/08 12:35:19 PM
Immortal

Quote by rokape
Quote by LordBug
To those that were planning on doing it, too late.
To those that got in before the 13th of this month, congrats.
To all of it, alas.
http://www.budget.gov.au/2008-09/content/overview/html/overview_26.htm
Namely:
removing the FBT exemption for work related items used mainly for private purposes such as laptops

A bit of a shame that it's been removed. I'm glad I got my laptop in November under SalSac. Would've been really unhappy if I'd held off this long.



It doesn't mention anything about the 13th of the month.

Why are you saying that the FBT is screwed ?

I thought the financial year ends at end of month?



You're a month late. Many companies sent internal notices saying that they ceased salary sacrifice for laptops purchased after the 13th of May.

I didn't say that the FBT is screwed. What they're doing is removing the exemption which allowed people to salsac for laptops and get a large % off (eg I got over 30% off my laptop). However , I believe that if it can be proved that the machine is to be used for work purposes, the exemption may still be available. I'm not sure on that though, you'd have to check with your payroll person.

End of financial year is at the end of June, yes. I posted this in May. They removed the exemption pretty much on the spot to prevent a massive flood of people jumping onto salary sacrifice to get a lappy on the cheap.

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Lord of nothing except my own dreams, so it's Bug to you.


I love you Sharleen *)

SquallStrife 
17/6/08 1:33:23 PM
Titan

If it's really for work purposes, the company should be buying it anyway.

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Q6600 @ 3.6GHz | 8800GTS | XP x64 | Vista HP x64 | OSX 10.5.2

psyckle 
17/6/08 3:11:32 PM
Champion

Quote by LordBug
Quote by rokape
Quote by LordBug
To those that were planning on doing it, too late.
To those that got in before the 13th of this month, congrats.
To all of it, alas.
http://www.budget.gov.au/2008-09/content/overview/html/overview_26.htm
Namely:
removing the FBT exemption for work related items used mainly for private purposes such as laptops

A bit of a shame that it's been removed. I'm glad I got my laptop in November under SalSac. Would've been really unhappy if I'd held off this long.



It doesn't mention anything about the 13th of the month.

Why are you saying that the FBT is screwed ?

I thought the financial year ends at end of month?



You're a month late. Many companies sent internal notices saying that they ceased salary sacrifice for laptops purchased after the 13th of May.

I didn't say that the FBT is screwed. What they're doing is removing the exemption which allowed people to salsac for laptops and get a large % off (eg I got over 30% off my laptop). However , I believe that if it can be proved that the machine is to be used for work purposes, the exemption may still be available. I'm not sure on that though, you'd have to check with your payroll person.

End of financial year is at the end of June, yes. I posted this in May. They removed the exemption pretty much on the spot to prevent a massive flood of people jumping onto salary sacrifice to get a lappy on the cheap.



Hopefully they won't get to a point where they ask you to prove it is for work purposes. TBH I think they are enforcing it at an employer level anyway.

Pity though, thats four notebooks in four years, I was thinking about trying for a fifth. Admittedly one of those is for work purposes.

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Quote by Takoma
psyckle , noted Perth Atomican and all round good guy



Inspirion 9300| Samsung Q1 UMPC | Latitude D530 |
spyhunter 
22/6/08 11:04:06 PM
Hero
Titan


I got my XPS 1530 just before the cutoff date. I think all up it saved me around $840 bucks of the total. I consider myself very lucky.

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Josho 
24/6/08 2:55:29 PM
Overlord

What if your in I.T can you still claim it for work purposes and training? any loop holes?

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lunchbox1988 
25/6/08 7:54:53 AM
Guru

Quote by Josho
What if your in I.T can you still claim it for work purposes and training? any loop holes?



Basically, I would assume that if you are in I.T. your work will pay for it out of their budget, if they are saying you have to buy it out of your pocket, tell them to get fucked.

As SquallStrife said, if you need it for work for >90%, then work should be paying for it.

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Josho 
27/6/08 11:54:29 AM
Overlord

Quote by lunchbox1988
Quote by Josho
What if your in I.T can you still claim it for work purposes and training? any loop holes?



Basically, I would assume that if you are in I.T. your work will pay for it out of their budget, if they are saying you have to buy it out of your pocket, tell them to get fucked.

As SquallStrife said, if you need it for work for >90%, then work should be paying for it.



No i mean buying your own for training purposes etc. Can you still sacrifice then because of your field of work? Just a thought as I used to get mine for training and setting up virtual labs etc.. which is obviously a direct benefit to my work.

like i said just looking for loop holes to continue my yearly upgrade :P

edit -

Ok after speaking to my HR wife and checking with accountants etc.
You can do this all it requires is a letter from the business stating that it's a business purchase and your golden. Well thats how I understand it anyways.



Edited by Josho: 27/6/2008 1:56:12 PM

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Xbox live account - B33R Jester - add me damnit!

SquallStrife 
27/6/08 2:04:50 PM
Titan

Quote by Josho
Quote by lunchbox1988
Quote by Josho
What if your in I.T can you still claim it for work purposes and training? any loop holes?



Basically, I would assume that if you are in I.T. your work will pay for it out of their budget, if they are saying you have to buy it out of your pocket, tell them to get fucked.

As SquallStrife said, if you need it for work for >90%, then work should be paying for it.



No i mean buying your own for training purposes etc. Can you still sacrifice then because of your field of work? Just a thought as I used to get mine for training and setting up virtual labs etc.. which is obviously a direct benefit to my work.

Edited by Josho: 27/6/2008 1:56:12 PM



As I said, if your work REQUIRES you to have a portable computer, they should be buying it.

Or at the very least let you buy one and reimburse you.

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Q6600 @ 3.6GHz | 8800GTS | XP x64 | Vista HP x64 | OSX 10.5.2

MisterK 
28/6/08 10:16:46 PM
Champion

explains it all
http://apcmag.com/did_kevin_rudd_kill_laptop_salary_sacrifice.htm

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LordBug 
30/6/08 1:37:42 PM
Immortal

That's a great link, thanks MisterK :)

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Lord of nothing except my own dreams, so it's Bug to you.


I love you Sharleen *)

psyckle 
30/6/08 5:46:28 PM
Champion

Ok so according to the link by MisterK it's not the end of salary sacrifice just a stricter definition of what kind of proof you need for work purposes, as well as the abolishment of double dipping on salary sacrifice and depreciation. Not sure if the changes to FBT mean that employers will be less likely to encourage the salary sacrifice however.

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Quote by Takoma
psyckle , noted Perth Atomican and all round good guy



Inspirion 9300| Samsung Q1 UMPC | Latitude D530 |
adrianf 
8/7/08 8:23:01 AM
Charge

My employer in their wisdom have decided they will supply all staff with a laptop, they suggest productivity will increase if we take our laptops home. Yeah right.

Adrian

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lunchbox1988 
8/7/08 3:12:38 PM
Guru

Quote by adrianf
My employer in their wisdom have decided they will supply all staff with a laptop, they suggest productivity will increase if we take our laptops home. Yeah right.

Adrian



HAHAHA

The only productivity I will get from my new work machine, is that gaming will be easier and my workload will get a bit easier also.

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