Got a uni degree?
When you salary package with Maxxia, you could pay less tax, take home more of your pay and pay off your uni debt faster. It almost sounds too good to be true, but it’s approved by the Australian Tax Office, and you definitely don’t need a degree to understand the tax benefits.
Remember, we’d love to chat about it whenever you have time. We make it really easy to get started. So call us.
As you can see, with salary packaging you could take home more pay. And you could also clear your uni debt faster.
Alice earns $60,000 per year and has a HECS/HELP debt of $20,000. If Alice salary packages $9,010 for her rent payments and $2,650 for Meal Entertainment benefits (eating out with friends or family), she pays for these before tax is taken out of her pay.
By salary packaging Alice could have an additional $1,413 in disposable income each year. She would also be paying her HECS/HELP debt faster by contributing an additional $994 per year towards her repayments.
*By the way, Alice is a totally made up name but we have lots of people like Alice who save and pay off their uni debt.
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. Conditions and fees apply. The availability of benefits is subject to your employer’s approval. Maxxia may receive commissions in connection with its services. The Meal Entertainment benefit has a maximum annual cap limit of $2,650. This will appear as a reportable fringe benefit on your Payment Summary each year which will be included in a number of income tests relating to certain government benefits and obligations. This cap is separate from the FBT cap limits for everyday living expenses.
Assumptions: Estimated benefit based on an eligible employee salary packaging the full $9,010 per annum limit. PAYG tax rates effective 1 July 2017 have been used and average Fees and Charges are included. Tax, benefit and Medicare Levy calculations are approximate, and assume no other taxable income is received. Net annual and fortnightly benefits include 50% tax share agreement with your employer.
Maxxia Pty Ltd | ABN 39 082 449 036.