Health & Charity Organisation
With 31 March 2025 fast approaching, it’s time to start preparing for the end of Fringe Benefits Tax (FBT) year, so mark these key dates in your calendar.
Amend
If you need to amend your February/March contributions, you must do so two weeks prior to the pay date you are amending. This is to allow your payroll team, as well as our teams, to make the changes to your pay.
Claim
28 March 2025
We need to receive your claims by 28 March to ensure they’re part of your 2024/25 Fringe Benefits Tax (FBT) year spend.
If you don’t have funds available in your Maxxia account, and don’t have a current deduction for the benefit you are claiming, you will need to submit an amendment to request funds from your pay two weeks prior to your pay date. You can submit your claim alongside your amendment, or submit it, and any additional claims, until 28 March.
Spend
31 March 2025
This is the final date for spending funds on your Maxxia Wallet Card. Don't forget, some vendors and financial institutions may take a few days to process transactions, so make sure you spend your balance before 31 March. Maxxia is not responsible for any delays in processing by vendors or financial institutions.
If you have any unspent funds remaining on your Maxxia Wallet at midnight 31 March, you will not lose this money.
The balance simply rolls over for you to spend in the new FBT year, which begins on 1 April 2025. However, these funds will form part of your new cap.
Remember: payments to the Maxxia Wallet card will stop one pay early in March.
To provide you with extra time to spend your remaining balance before the end of the FBT year, the Maxxia Wallet card annual budget is now spread over one less pay each FBT year, so no Maxxia Wallet payment will be made from your last pay in March.
Your cap limit has not changed - it's the same annual budget, just over one less pay cycle.
IMPORTANT INFORMATION: The general information in this page does not take into account any of your personal or financial circumstances. For advice specific to your personal or financial circumstances, please seek your own professional independent tax or financial advice.
Maxxia Wallet is a Prepaid Mastercard and is issued by EML Payment Solutions Limited ABN 30 131 436 532 AFSL 404131 pursuant to license by Mastercard Asia/Pacific Pte. Ltd. Maxxia Pty Ltd (Maxxia) ABN 39 082 449 036 is an Authorised Representative of EML Payment Solutions Limited Australian Financial Services Authorised Representative number 000278683 and participates in the promotion and distribution of the Card. Consider if the card is right for you. You should read the Product Disclosure Statement (PDS) for this product before making any decision on the new Card (Maxxia Wallet). You can read the PDS here. The Target Market Determination for this product can be found here.