LAFHA
#4
BE Enthusiast
Joined: Jan 2005
Location: Gold Coast
Posts: 629
Re: LAFHA
Another thing to be aware of - which neither myself or my sponsoring company was - is that the minimum wage they have to offer ($41000 or something) on a 457 means the taxable wage.
I was receiving a large proportion of my wage tax free through the LAFHA, but this meant that the taxable part of the wage was below the minimum wage allowed.
Immigration did catch up with them and they have had to increase my wage slightly, and lower the amount of LAFHA I was claiming, so that the taxable wage just meets the minimum criteria.
The daft thing is that it basically means I'm no better off and the company is now worse off. What's the point of that?
I was receiving a large proportion of my wage tax free through the LAFHA, but this meant that the taxable part of the wage was below the minimum wage allowed.
Immigration did catch up with them and they have had to increase my wage slightly, and lower the amount of LAFHA I was claiming, so that the taxable wage just meets the minimum criteria.
The daft thing is that it basically means I'm no better off and the company is now worse off. What's the point of that?