I'm about to take a new job and my salary package includes car and phone allowances. I can't, however, see myself spending as much as my allowances. I understand any allowances not spent become taxable income at the end of the financial year. If so, is there any real benefit of having a phone and car allowance? Should I ask for the base salary to include the allowances instead? Either way, I would still claim my business vehicle use and phone expenses as a deduction or am I missing something?
