Salary Packaging question
 

Just wondered if anyone has had any experience of this, my husband and I both work for the same employer and we want to salary package our childrens school fees of $150 a fortnight which we are allowed to do. The lady from the company came and spoke to us yesterday and said we can both claim the $150 a fortnight that we pay in school fees....so basically we would be getting twice the tax benefit...this didn't sound right to me so I queried it numerous times and she insisted it was correct. Has anyone else done this, it seems a bit like we would be committing ATO fraud.

Re: Salary Packaging question
 

$80,000 gross income (ex superannuation)
total tax payable = $18900 (inc medicare+flood levy)

$80,000 gross income less salary sacrifice of $150/fn = $3900
= taxable income now $76,100
total tax payable = $17653 (ex medicare/flood levy)

saving of $1247 per year or 33% of your school fees from after tax money

Re: Salary Packaging question
 

one thing to add is if there is any fbt (fringe benefits tax) though im assuming you are probably in a health or non for profit org which i believe has exemptions....