The massive benefits available to employees who are eligible for the Living Away From Home Allowance (LAFHA) continues unabated! We continue to provide ongoing advice to clients and potential clients in this area. This short article sets out a few interesting facts relating to LAFHA which every temporary employee should consider: LAFHA Period Legally there [...]
Browsing Posts tagged living away from home
Watch the following video and learn about calculating the value of LAFHA: A business structure or entity is allowed to pay a living away from home allowance (LAFHA) to an employee who is living away from home as part of their work duties. This allowance is not treated as income under the PAYG scheme but will be subject to [...]
Testimonial – Living Away From Home Allowance (LAFHA)
August 13, 2010
SMEBA
I would like to thank SME for the effective and friendly way that they dealt with me in salary packaging LAFHA. I will keep you posted on progress and look forward to dealing with you next year when you update the package. Regards Dave Brown Technorati Tags: lafha, living away from home, Living away from [...]
Salary packaging is an effective way to optimise ones tax position Packaging allows employees to change the structure of there remuneration package and take non cash benefits in lieu of salary The most common packaging items are: Cars Living Away From Home Allowances Relocation expenses Laptops Additional superannuation We will review your salary package and [...]
Annual fringe benefit tax returns are required to be lodged by all employers who provide “fringe benefits” to employees. The fringe benefits year runs from 1 April – 31 March Fringe benefits tax is payable by the employer Popular fringe benefits are: Car benefits Entertainment Loan benefits Specific exemptions include: Relocation costs Minor benefits Living [...]
These concessions recognize that if an employee is required to live away from their usual place of residence, they will incur additional expenses which are fundamentally private or domestic in nature. The law permits employers to pay a tax free benefit, known as Living Away From Home Allowance (LAFHA), to cover these additional expenses. A [...]