Benefit by Salary Packaging

As an employee of a Public Benevolent Institution or Health Promotion Charity, you’re entitled to take advantage of some significant taxation reducing benefits.

Depending on your employer’s policy, you can salary package Non Cash Benefits (NCB) up to a ‘grossed up’ value of $30,000, which translates to spending $15,900 on Reportable Fringe Benefits during each FBT Year.

Reportable Fringe Benefits

The following items can be packaged as part of your $30,000 cap. 

  • Mortgage Repayments
  • Private Home Rental
  • Meal and Entertainment expenses (Separate cap effective from 1 April 2016)
  • Living Expenses
  • School & University Fees, etc.

Exempt benefits

The following items can be paid from your pre-tax salary and not impact your cap.

  • Work Related equipment such as Laptops, Mobiles & Electronic Devices
  • Superannuation Contributions
  • Airport Lounge Membership
  • Professional Journal & Body Costs
  • Remote Area Housing

Concessional benefits 

The following car leasing programs can be tailored to suit your circumstances and can be part of your cap or in addition to it.

  • Novated Motor Car Lease
  • Associate Motor Car Lease

You can learn more about our Car Lease products by clicking here.

To get more information on any of the above, contact our office on 03 5229 4200 or complete the following enquiry form.

Click here to go to our Frequently Asked Questions page specific to your employer type.

Using the example of Brad, who is a Case Manager with a local not-for-profit employment agency and has a salary package is $60,000 per annum before Super. 

His take home pay was $1,840 every fortnight before he paid the rent on his unit and some of his living expenses, which adds up to $610 every fortnight. Therefore after he paid his rent, he had $1,230 left.

We set up his salary package to pay his rent and living expenses from his pre-tax salary by using his available cap. His take home pay after his rent and living expenses were paid went to $1,435 every fortnight.

Effectively this meant that his pay increased by $205 every fortnight, which equates to an extra $5,330 per year.

 

Contact us and we’ll set you up to benefit in the same way.