Salary packaging ?
Dec 30th 2007, 11:06 pm
#1
Just Joined
Thread Starter
Joined: Dec 2007
Posts: 13
Salary packaging ?
Still in the UK & hope to be in Melbourne in March at the latest. A list of benefits my employer has listed is 'Salary packaging'. Anybody else recieve this and is it a good benefit ?
Dec 30th 2007, 11:14 pm
#2
BE Forum Addict
Joined: Jun 2007
Posts: 1,352
Re: Salary packaging ?
http://www.remunerator.com.au/index.php
there's a post on here about salary packaging
remunerator $9095 Tax Free
i do it and pay some of my mortgage which works well...it's a good deal...but the whole "salary package thing" seems a bit of a waste of time when they should just pay you more....it's worth a few thousand a year
Dec 31st 2007, 12:18 am
#3
Has left the building
Joined: Mar 2007
Posts: 4,079
Re: Salary packaging ?
Things to bear in mind
If it is a vehicle related there are FBT implications (payable by the employer but in most cases recharged to the employee). The amount is based on list price of vehicle and consideration of mileage done - the more miles/kms the less you pay (yes it is a strange concept).
If you work for a charity they are FBT except.
There are limits on sort of vehicle you can buy - ie age of vehicle - so unless you are looking for new or late model (up to 4 years old) it may not be worth anything to you.
What items you can salary sacrifice depend on your employer.
Dec 31st 2007, 1:10 am
#4
Forum Regular
Joined: Apr 2005
Location: Tapping
Posts: 104
Re: Salary packaging ?
The benefit is simply you are paying for expenditure out of gross income which gives you a decent tax saving (tax calculated on the remaining balance after this expenditure).
Things to bear in mind
If it is a vehicle related there are FBT implications (payable by the employer but in most cases recharged to the employee). The amount is based on list price of vehicle and consideration of mileage done - the more miles/kms the less you pay (yes it is a strange concept).
If you work for a charity they are FBT except.
There are limits on sort of vehicle you can buy - ie age of vehicle - so unless you are looking for new or late model (up to 4 years old) it may not be worth anything to you.
What items you can salary sacrifice depend on your employer.
Things to bear in mind
If it is a vehicle related there are FBT implications (payable by the employer but in most cases recharged to the employee). The amount is based on list price of vehicle and consideration of mileage done - the more miles/kms the less you pay (yes it is a strange concept).
If you work for a charity they are FBT except.
There are limits on sort of vehicle you can buy - ie age of vehicle - so unless you are looking for new or late model (up to 4 years old) it may not be worth anything to you.
What items you can salary sacrifice depend on your employer.
