LAFHA (Living Away From Home Allowance) Calculator

Do you need help with the LAFHA calculator and how it can benefit you? Calculating how much you or your employees can save by installing LAFHA depends on how much of your package you can designate as LAFHA.

Persons on a 457 visa can be limited to the amount of LAFHA they can receive because of a minimum salary threshold imposed by the Department of Immigration -

http://www.immi.gov.au/skilled/457-market-salary-rates.htm

Otherwise; the LAFHA amount is determined mainly on two components;

• a food component – which is determined based the statutory figures given by the ATO &
• an accommodation component – which is based on your expenditure for rent; subject to being an reasonable amount for your circumstances.

Our LAFHA calculator must also take into consideration;

• how many people are accompanying you – must also indicate whether adult or child (under 12yrs of age).
• your total package; including allowances, bonuses, super
• your pay frequency
• & whether you have been reimbursed for any expenses already.

Once we have determined you are eligible to receive the Living Away from Home Allowance and calculated the correct amount, we can then prepare the LAFHA package which contains all the documentation and calculations necessary for the allowance.

We are also careful in that so that neither the employee or the employer incurs unnecessary FBT or tax liability; as well as not impacting on one’s visa status.

If you need assistance in incorporating the LAFHA, we are CPA-qualified payroll specialists and tax accountants and will help you save money with this excellent arrangement. Contact us through our site or call (02) 9419 5322 for LAFHA calculator assistance today!

Our Sydney accountants at Easy Tax Accountants and Tax Agents in Sydney provide ethical, innovative, proactive and constructive Sydney accounting services. Our experience enables us to deliver some of the best Sydney tax advice, efficient preparation of tax returns and maximise deductions through to lodging your tax return… all focused on achieving the maximum potential tax refunds. In particular, we provide LAFHA Australia specialist tax and accounting advice for expatriates, whether you are based locally or internationally.

Take advantage of our small business accounting services during which we will help you to refine your needs and consider an accounting and tax planning solution for you or your business going forward… make an online enquiry today or call us on +61 2 9419 5322 and let us help you solve your accounting or tax problems.

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