Motorbikes and Financial Advisers

I'm looking at upgrading from the ZZR250 soon and I'm hoping to get the new
bike on a salary sacrifice.

In order to get it approved, I have to get advice from a financial adviser.
I've looked into the legislation and it looks like a good deal (better than
for cars), but I need a financial adviser that knows about salary
sacrificing a bike.

Any one done a salary sacrifice on a bike before? or can recommend a
financial adviser with some experience in this area?

I'm in Canberra.

Skuz
'91 ZZR250

 

Well salary sacrifice is good on a car if you do a lot of k's
it's the FBT you've got to watch.
0-14,999km 26%
15,000-24,999km 20%
25,000-40,000km 11%
40,000 + 7%
But as it's all pre-tax dollars it's great ! You could even get a
StarCard !!
Good Luck with it, I tried to do it once here at work but the reg's said
I would have to do something like 90% of my k's with a work related use, and
as I was doing 160k's a day to/from work, it would have been a bit hard to
acheive !!!!
Steve.

 

"bike". he said "bike". gawd.

 

CHeck up again on that '90%' bit.

On a novated lease (of which you *may* be able to get a bike on - mine
does (or used too), the only thing that has to be figgured in is the
annual km - so that your salary sacrifice has enough for the FBT!

Are you using a novated?

WHich lease company (reply privatly if you want - you know what to remove!)

Stan

 

Yeah. It will be a novated lease.

A company called Remunerator is the outsourced provider for facilitating
salary packaging for my work. They said I can pretty much go through any
company as long as work agrees to the terms and conditions. They also said
they had not done a motorbike before but couldn't see why it couldn't be
done.

I've been looking into the FBT side of things. A motorbike is classed as a
motor vehicle other than a car and has different rule for calculating FBT.
If I read it right, one option is based on total operating cost and the
other is a flat 11 cent per kilometre traveled (fully maintained) and
neither with minimum kilometres.

It seems a bit too good a deal and everyone I've talked to is a bit vague on
the motorbike specifics.


"Stan Gifford - APAC command centre manager"

 

Skuz said....

I'd love to. The boss won't allow it. I sal. sac. a car. You pay FBT
based on kays done at varying rates. With a bike, the FBT is only
payable on what kays you actually do. So, if you have a collectors
edition harley heritage softail wideglide fatboy, and leave it in
storage, you'll make a killing at the end of the lease.

 

iiiiiiiiiiiiiiiiiiii said....

What's a "Starcard"? We have to make do with a Shell card, which only
gives us about 8 cents/litre off pump price. But at pre-tax dollars,
it's effectively 50 cents/litre, after tax.

What regs? We don't need to do any work related kays.

 

If only I had a job!

 

Be careful whaty you wish for Pete.

Working stuffs up your social life and drinking time something chronic.

regards,
CrazyCam

 

You're quite right, Cam. Dunno what I was thinking!

 

I have Skuz. I started by lease a month ago. spoke to a guy in Civic. let me
know here if you are still thinking about it.

Bruce
CBR1100XX
ZR750

 

on a bike it is always 11%. no matter how many Ks you do.

 

My novated lease fleetcard lets me buy my petrol pre-tax and pre-GST

Nev..
'03 ZX12R

 

Nev.. said....

As does mine. The thing is getting a fuel card that also gives you
discounts off bowser prices, and if your employer or fleet management
co. can wrangle some sort of deal. With us, the Shell card gives us a
discount. Can also purchase oils on it. Luckily the card doesn't mind
what type of oil that I buy.....

 

Baby oil, olive oil, coconut oil, oil-of-ulan?
Clem

 

Knobdoodle said....

Er, the card's for my car, but it seems to work OK when I purchase
motorcycle oil........