Salary Packaging
 

Hi everyone,

Just wondered if anybody could explain the concept of salary packaging in laymans terms for me/us. I'm going out to Melbourne on a 457 visa, is it advisable to partake in the salary packaging scheme as I may not be in the country for more than 4 years? If so why? Also would anyone mind explaining the benefits.

Many thanks

Jonny :confused:

Re: Salary Packaging
 

Basically if you get payed $1000 a week the company can salary package say $200 of this to go into your mortgage for instance. This means you only pay tax on the $800 left in your wages.
Thats a very basic way of looking at it. Its a good scheme though.

Re: Salary Packaging
 

I salary sacrifice $600 a fortnight onto my credit card also another $100 a fortnight towards meals out. It saves a fortune on my tax bill. I'm looking at buying a laptop which can also be sacrificed at the minute.

Mandy

Re: Salary Packaging
 

Cheers for the reply's, think I've got the idea now:o

Re: Salary Packaging