Living away from home allowance and novated lease
Aug 11th 2009, 8:50 pm
#1
Just Joined
Thread Starter
Joined: Jun 2009
Posts: 12
Living away from home allowance and novated lease
Hi All,
Well I am about to make the move to Brizzy.
A quick question on LAFHA and Novated Leasing on cars. If I am earning a salary of $80k AUS and I was to spend $24k on rent and a further $12k on a car lease how much would I end up with after deductions???? I keep seeing different figures. Does anyone know the formula?
Would really appreciate it as I need to set my budgets.
Thanks Guys.
Well I am about to make the move to Brizzy.
A quick question on LAFHA and Novated Leasing on cars. If I am earning a salary of $80k AUS and I was to spend $24k on rent and a further $12k on a car lease how much would I end up with after deductions???? I keep seeing different figures. Does anyone know the formula?
Would really appreciate it as I need to set my budgets.
Thanks Guys.
Aug 12th 2009, 1:41 am
#2
Has left the building
Joined: Mar 2007
Posts: 4,079
Re: Living away from home allowance and novated lease
Hi All,
Well I am about to make the move to Brizzy.
A quick question on LAFHA and Novated Leasing on cars. If I am earning a salary of $80k AUS and I was to spend $24k on rent and a further $12k on a car lease how much would I end up with after deductions???? I keep seeing different figures. Does anyone know the formula?
Would really appreciate it as I need to set my budgets.
Thanks Guys.
Well I am about to make the move to Brizzy.
A quick question on LAFHA and Novated Leasing on cars. If I am earning a salary of $80k AUS and I was to spend $24k on rent and a further $12k on a car lease how much would I end up with after deductions???? I keep seeing different figures. Does anyone know the formula?
Would really appreciate it as I need to set my budgets.
Thanks Guys.
The $24k may not be the correct figure to take - I believe the ATO set a value which is reasonable given area/family/position of employment.
The $12k will also be subject to FBT which needs personal circumstances taken into account ie mileage, costs incurred by yourself post tax ie petrol/insurance/servicing. Also whether your employer is exempt from FBT ie a charity.
