
Talk to us today about salary packaging the Maxxia way
Whether you’re ready to get started or would like to know more, we’re here to help.
Salary packaging – or salary sacrificing as it's often known – is an exciting story, but it can also appear to be quite complicated at first. In a normal situation, you go to work and get paid but before you get paid, your employer takes out income tax and deposits what is left over into your account. You then pay for all your living expenses using this money.
With salary packaging, your employer pays you the same salary but instead of paying all your expenses after you’ve been taxed, you pay for selected expenses before the tax is taken out. This could lower your taxable income and help you pay less tax.
Susie earns $60,000 per year. She works for a charitable organisation, and her employer provides a program which allows her to salary sacrifice these everyday items up to a cap of $15,900 per FBT year. By salary packaging up to $15,900 she could be up to $5,206 better off each FBT year. This amount doesn’t include other salary packaging benefits she could be entitled to, including Meal Entertainment. Please note that Susie’s ability to salary package is dependent on the industry she works in and the package her employer provides. Contact us to discuss the amount you may be able to salary package given your individual circumstances.
Our calculator can take the guesswork out of salary sacrificing and give you a guide to your potential savings.
Depending on the industry and sector you work in, when you salary package you could be eligible to pay for a range of expenses with your pre-tax salary.
What this means is if you pay less tax, you could end up with more disposable income.
You could use it to purchase that special item you've been saving up for, go on a trip - or put it away for a rainy day.
Whether you’re ready to get started or would like to know more, we’re here to help.
Depending on your industry and employer, there are a
variety of expenses and items you can package.
In exchange for managing your salary packaging account, we charge an administration fee that is agreed upon with your employer.
Just like the benefits you enjoy, your fees are paid out of your pre-tax dollars and do not contribute toward your cap limits or attract FBT.
Additional charges may apply for some additional benefits such as a novated lease, or Meal Entertainment. Please refer to your employer’s Salary Packaging Information Booklet for more information.