Do more with your money – start salary packaging today
Salary packaging gives employees access to some great tax benefits. So why not take advantage of them?
Salary packaging in a nutshell
Fully approved by the Australian Tax Office, salary packaging lets you pay for things like the everyday costs of living with money from your salary before tax. This reduces your taxable income, meaning you could pay less tax and take home more of what you earn.
Watch our video to learn more about salary packaging
What are some of the things I can salary package?
Capped benefits
With capped benefits there’s a limit to how much you can salary package each Fringe Benefits Tax year (1 April – 31 March).
Everyday living expenses – up to $15,900
Those everyday living expenses sure add up, but with salary packaging you can pay for them before you get taxed!
- Mortgage and rent
- Gas and electricity expenses
- Groceries and clothes
- Personal loan repayments
- Private health insurance premiums
- School fees
- You can still salary package with a HECS/HELP debt
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Is there anything else I can salary package?
Uncapped benefits
On top of the capped benefits, you can also take advantage of a range of uncapped benefits.
Novated leasing
Novated leasing lets you salary package the cost of getting into and running a new car with some of your before tax dollars (over and above any that you use for capped benefits) – and potentially lower your taxable income.
New or used, we can help you find the car you want and negotiate with dealers to secure a great price that doesn’t include GST on the purchase price or any upfront fees.
Once you’ve decided on the car you want we will set up a salary packaging account. Then we can arrange a budget for your lease repayments and running costs like fuel, registration, insurance and maintenance. The cost of everything is bundled into one regular payment drawn from your salary each pay.
Additional superannuation contributions*
You could save more for your retirement by salary packaging additional super contributions, and topping up the payments your employer makes on your behalf.
Work-related self-education
When you work, continuous learning is important. So it makes sense to pay for your self-education expenses with before tax dollars.
Professional memberships and subscriptions
You could also salary package any professional memberships as well as the cost of your work-related newspapers, journals or magazines.
*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.