If you could pay less tax, why wouldn’t you?
If you could pay less tax, why wouldn’t you?
Did you know you could be eligible to save on tax through salary packaging? It’s a great way to get your hard-earned dollars working harder by potentially reducing your taxable income.
Whether it’s your home office expenses and other work-related expenses, or making the most of your superannuation contributions - you could do more with your money by salary packaging eligible expenses.
Voluntary superannuation contributions
With salary packaging, you can use funds from your pre-tax salary to make additional contributions to your superannuation. This not only reduces your taxable income, meaning you could save on tax, but could also boost your retirement nest egg**.
Noting that you can salary sacrifice the total annual limit of $30,000 (including your employer's contribution) before excess contributions tax becomes payable.
Novated leasing
You could save thousands by salary packaging a car through a novated lease.
With novated leasing, one regular payment is drawn from a combination of your pre-tax and post-tax salary each pay that covers car payments, fuel or charging, registration, insurance and servicing
And if you lease an eligible electric vehicle, you could make all payments pre-tax with the Electric Car Discount, potentially saving you thousands
Work-related self-education
When you work, continuous learning is important. So, if you could, why wouldn’t you pay for your work-related self-education expenses with pre-tax dollars?
Other work-related expenses
From home office items and travel costs for work, to electronic devices and working from home expenses - you might be surprised at the range of work-related expenses you could be eligible to package*.
Professional memberships and subscriptions
You could also salary package professional memberships, like your union fees, as well as the cost of your work-related newspapers, journals or magazines.
Financial advice
If you talk to a registered financial adviser about your finances, you may be eligible to salary package the fees – meaning you could get valuable investment advice while potentially saving on tax!
We can help you make sense of salary packaging
For most people, understanding the benefits of salary packaging can be daunting. Our experts could break it down for you, so you feel confident about what salary packaging could do for you.
Contact us
Ready to get started or just want to find out more?
Select a time for us to contact you, call us on 1300 123 123 or complete the form.
Nice one!
You’ve taken the first step to doing more with your money. We’ll be in touch very soon!
*Before salary packaging any portable electronic devices, your employer must confirm it is used for work-related purposes more than 50 per cent of the time.
**Additional (or concessional) superannuation contributions from pre-tax salary are subject to a concessional tax rate of 15% if your taxable income plus concessional contributions is under $250,000. An additional tax of 15% may apply if your taxable income plus concessional contributions is above $250,000. The taxation of additional superannuation contributions via salary packaging may differ from the taxation of additional superannuation contributions from post-tax salary. Additional superannuation contributions will be reported on an employee’s annual payment summary and will be used to assess an employee’s eligibility for a number of government benefits, or liability for certain payments. Caps for concessional superannuation contributions apply – please refer to www.ato.gov.au for up to date information.