Salary Packaging - Attention NSW Health Employees!
Saturday, December 23, 2006
What is Salary Packaging?
Salary Packaging is a tax effecive way for employees to pay for expenses including mortgage repayments, novated car leases and rent payments.
Under a Salary Packaging agreement, employees can pay for the above from their pre tax dollars, rather than after tax dollars – which can reduce the amount of tax they pay each year.
Fringe benefits Tax
The payoff with Salary Packaging is that you may need to pay for FBT (fringe Benefits tax). Some items are FBT exempt such as laptop computers and car parking, whilst other items have a maximum benefit before they attract FBT.
For an example of how Salary Packaging can benefit you follow this link
http://www.ato.gov.au/individuals/content.asp?doc=/content/24632.htm&page=12&H12
If your employer offers a Salary Packaging scheme, we recommend you first seek advice from a skilled accountant. If you don’t know of a good accountant email us and we will recommend one for you.
posted by Daniel Serratore @ 11:10 am,
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The Author
Daniel Serratore
Daniel is heading up the new generation of Finance Brokers in Sydney. With his fresh approach and "can do" attitude, Daniel has developed relationships with key people within the Sydney lending market which enables him to source great deals for his clients. Daniel is big on customer service and has built his business purely by referrals from clients and other businesses. You can catch him via the email link on the top of this page
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This blog was developed as a resource for our clients and the general public. Although the internet will provide you with many lending providers, I am still to find a resource that shares ideas, tips and general useful info to assist borrowers make the right decisions. Hence this blog was born!
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