Summary

Payment Claim Form – Reimbursement

Item Amount

Employees wishing to claim a reimbursement for an expense that they have already paid will need to complete the Payment Claim Form – Reimbursement (Claim). Copies of documentation to substantiate this claim must be attached to the Claim. Employees cannot claim the amounts on this Claim through any other salary packaging facility and will not be used for any other tax-deductible purpose. The total amount being claimed on this Claim is for previously unclaimed purchases only and not for cash advances, purchases where funds have been returned or an outstanding balance of previously claimed transactions. The employee needs to understand that they may be subject to an Australian Taxation Office (ATO) audit at any time and may incur a future tax liability on any funds received without legitimate documentation and/or proof of occurrence.

Summary

Financial literacy is a requirement for functioning effectively in modern society with trends in retirement income policies, work patterns and demography suggesting its importance can only increase in the years ahead. For example, Steven Ciobo MP, Parliamentary Secretary to the Treasurer, comments in the Forward to the Australian Securities and Investments Commission’s (ASIC’s) National Financial Literacy Strategy 2014-17, “Being able to confidently navigate the financial landscape and make good decisions about money are core life skills every Australian needs. Improved financial literacy can benefit anyone, regardless of age or income. Being able to make the most of your money, manage financial risks and avoid financial pitfalls can have a positive impact on the financial wellbeing of individuals, families and communities.” Similarly, at its 2010 Toronto Summit, the G20 emphasised the importance of financial literacy and financial capability in supporting financial inclusion, thereby enhancing community wellbeing.