How will salary packaging affect my pay?
This is what happens to your pay once you've set up a Maxxia salary packaging account:
- each pay cycle, your employer's payroll department deducts a nominated portion of your salary before tax is applied – and sends those funds to us
- you can then use these funds to pay for your chosen benefits(e.g. Living expenses, Mortgage payments, etc.)
- the rest of your salary gets taxed. However, because some of your salary has been taken out (to pay for your chosen expenses), you may be taxed on a lower amount
- your post-tax salary is then deposited into your bank account as usual.
By getting taxed on a lower amount and effectively paying less tax, your disposable income could be increased. This could leave you with more to spend at each pay cycle.
Disclaimer : This general information doesn’t take your personal circumstances into account. Please consider whether this information is right for you before making a decision and seek professional independent tax or financial advice. Employers should independently consider whether a benefits program is appropriate for their organisation and seek advice where appropriate. Conditions and fees apply, along with credit assessment criteria for lease and loan products. The availability of benefits is subject to your organisation’s approval. Maxxia may receive commissions in connection with its services. Maxxia does not act as your agent or representative (or provide you with any advice or recommendations) in respect of the purchase of any vehicle.