Virgin Blue hiring
Join Date: Jan 2012
Location: Western Australia
Posts: 2
Likes: 0
Received 0 Likes
on
0 Posts
Dragun & Noclue
Hi Dragun, TR 2001/10 covers the area of salary sacrificing. You've described the "effect" very well but your assumptions and choice of words are not correct.
The link to the ATO Tax Ruling is here for salary sacrifice arrangements: TR 2001/10 - Income tax: fringe benefits tax and superannuation guarantee: salary sacrifice arrangements (As at 31 July 2002)
You cannot call the loan repayment a deduction, as it is not that at all. You do not enter this amount on your tax return as a deduction because of the arrangement you have struck with your employer.
Employees (as far as the ATO are concerned) and their employer enter into an agreement to have the expense met from before tax income (gross income). And for most of these arrangements there is the Fringe Benefits Tax which must be levied for having received the "benefit" i.e. having your pre-tax dollars met from whatever lawful expense you and your employer agree on.
And, it sounds in this instance what you have is a set - off arrangement. That is, pilots owe their employer a sum and this sum is deducted (for the amounts you've stated in post 223) from wages / salaries earned every fortnight over the term offered by their employer.
Para 84 of the Tax Ruling in the link above talks about this in more detail.
And the tax rules do change. The current federal treasurer did take away the ability to salary sacrifice portable computers in his first budget.
All the best Dragun, and note this is not tax advice in any shape or form ! You'll need to seek clarification from a registered tax agent, which could be shortly given it's almost that time of year again.
Cheers, KwerkyD.
The link to the ATO Tax Ruling is here for salary sacrifice arrangements: TR 2001/10 - Income tax: fringe benefits tax and superannuation guarantee: salary sacrifice arrangements (As at 31 July 2002)
You cannot call the loan repayment a deduction, as it is not that at all. You do not enter this amount on your tax return as a deduction because of the arrangement you have struck with your employer.
Employees (as far as the ATO are concerned) and their employer enter into an agreement to have the expense met from before tax income (gross income). And for most of these arrangements there is the Fringe Benefits Tax which must be levied for having received the "benefit" i.e. having your pre-tax dollars met from whatever lawful expense you and your employer agree on.
And, it sounds in this instance what you have is a set - off arrangement. That is, pilots owe their employer a sum and this sum is deducted (for the amounts you've stated in post 223) from wages / salaries earned every fortnight over the term offered by their employer.
Para 84 of the Tax Ruling in the link above talks about this in more detail.
And the tax rules do change. The current federal treasurer did take away the ability to salary sacrifice portable computers in his first budget.
All the best Dragun, and note this is not tax advice in any shape or form ! You'll need to seek clarification from a registered tax agent, which could be shortly given it's almost that time of year again.
Cheers, KwerkyD.
Join Date: Sep 2007
Location: Australia
Posts: 316
Likes: 0
Received 0 Likes
on
0 Posts
For all those on this forum who have entered Virgin via a hold file, can you perhaps share some information regarding how the process works? When you are 'accepted' onto the hold file, does the company give you a letter of offer then, or are you just told that you are on the hold file, and the terms and conditions of your employment only given once you accept a course/start date. Cheers in advance. FL.
Hi kwerkyd,
Great post, thanks for the links. You're correct in saying I chose my words poorly, it's not a straight up tax deduction. My bad! My point was that the net result is the same, whether you use salsac or pay up front and declare the total amount at EOFY (although salsac is better because you're not paying any interest on a loan in the interim, have improved cashflow and will probably cause you less heartache in the case of an ATO audit).
Cheers again
Great post, thanks for the links. You're correct in saying I chose my words poorly, it's not a straight up tax deduction. My bad! My point was that the net result is the same, whether you use salsac or pay up front and declare the total amount at EOFY (although salsac is better because you're not paying any interest on a loan in the interim, have improved cashflow and will probably cause you less heartache in the case of an ATO audit).
Cheers again
Join Date: Sep 2007
Location: Australia
Posts: 26
Likes: 0
Received 0 Likes
on
0 Posts
Can anyone share how long the various endorsements take and where they're carried out? Also has anyone in the recent round of interviews (the last 3-4 months) recieved the nod?
Cheers
Cheers
Join Date: Sep 2007
Location: Australia
Posts: 316
Likes: 0
Received 0 Likes
on
0 Posts
I guess it all comes down to when they did their last interviews. If they are going to put together a hold file for the whole lot it will be at least 6 weeks after the last interview before they hopefully notify everybody.
Guest
Posts: n/a
It seemed to me that they were grouping the FEB/MAR candidates together into one big group, so hopefully within the next few weeks then. Makes you wonder why they are compiling such a massive hold file, there doesn't even seem to be that much movement. What do they have planned over there?? Not to mention the cadet program!! 
Air Nuigini has had to go to QF for their B737NG endorsement courses because Boeing is booked out.Maybe they are fully booked by VA or possibly Lion Air or Air Pacific who knows ??But there is plenty of training planned !!
Join Date: Nov 2002
Location: Not the arsehole of the world, but about 18 miles up it!
Posts: 28
Likes: 0
Received 0 Likes
on
0 Posts
I'm sure no news is good news
HH
Oh, sorry to hear thar Hudson 
. That seems like a really long time to get a no thanks. I heard they give you some feedback on why you weren't successful. Im sure youll blitz the next one. Loved your movie by the way, any chance for a sequel?
. That seems like a really long time to get a no thanks. I heard they give you some feedback on why you weren't successful. Im sure youll blitz the next one. Loved your movie by the way, any chance for a sequel?
Join Date: Sep 2005
Location: Australia
Age: 44
Posts: 214
Likes: 0
Received 0 Likes
on
0 Posts
Hudson, did you get an email saying they would be checking your references? Or was that 8 weeks and nothing else heard apart from the call? Sorry to hear that by the way. Been 4 weeks for me so far and nothing.
Join Date: Jun 2001
Location: Living next door to Alan
Posts: 1,521
Likes: 0
Received 0 Likes
on
0 Posts
I don't think so...........
It would be EXTREMELY unlikely for any airline to give you feedback on weak areas at interview, as at least one I know of has been bitten on the arse by a couple of applicants who didn't agree with the assessment.
Quite sad that a couple of sooks can spoil it for everyone
Quite sad that a couple of sooks can spoil it for everyone
Join Date: Sep 2005
Location: Australia
Age: 44
Posts: 214
Likes: 0
Received 0 Likes
on
0 Posts
I thought it was a bit weird myself Jarse, however one of the guys on my round of interviews got the no and was told a couple of reasons why he didn't get the nod. I won't say what they told him but it was in the interview not the sim that let him down.
Join Date: Nov 2005
Location: 'straya!
Posts: 217
Likes: 0
Received 0 Likes
on
0 Posts
It definitely would be nice to know what the hold up is!
My interview was about 8 weeks ago now! I've had 3 emails saying they need more time to contact referees.
Though it's very nice of them to keep in touch - this is painful! They sure know how to keep a bloke waiting!
My interview was about 8 weeks ago now! I've had 3 emails saying they need more time to contact referees.
Though it's very nice of them to keep in touch - this is painful! They sure know how to keep a bloke waiting!
Guest
Posts: n/a
It has only been 8 weeks for me, I've got nothing on falling leaf!! I wonder what the hold up is, surely it doesn't take that long to call some refs?? Could they be completing all of the interviews before selecting suitable candidates maybe?