gdcollectables

My husband's just started a new job, it's a bit better paid than the last one and he received his 1st weeks wages yesterday! :scared: TAX!!

He asked if they are in a salary sacrifice scheme and was told yes, for extra Superann contributions only!

I thought that salary sacrifice could be used for payments such as rent, mortgage, cars, credit cards, etc.

Can anyone advise?

Is it possible to join an external scheme, through an acoountant if it isn't available through your employer?

NickyC

It's normal that anyone can pay extra Super contributions from their pre-taxed salary.

The ability to Salary sacrifice other costs depends on the employer - it's not available to everyone. Employers have to do a lot of additional paperwork and keep more records so only those that are keen will offer it.

Never heard of being able to do it any other way except through your employer.

Milo

HI gdcollectables,

Just looked through my salary packaging info doesn't say anything about super just a list inclusive of mortgage rent ect are you sure they arn't confusing super fund with salary packaging???

Don't know of any external schemes. Mine comes with the nursing job.

Marie

gdcollectables

Do you think the Do'nut's asked the wrong question then?

Megalania

Here is why many employers are not interested in salary sacrificing to other than superannuation:

Fringe benefits tax for small business

Here's why it may be a poor idea for employees:
What are the implications for employees?

"If there is any FBT payable on the benefits received then it is the employer who is liable to pay that tax. The FBT payable is determined at the highest marginal income tax rate – that is, 48.5 cents in the dollar. The employer, however, may ask the employee to contribute the FBT payable."