feel free to call. & manage your account, Save the Smartleasing icon to your device home page to allow you to quickly log in to your account. Strategic salary packaging example: If the job market is paying around $80,000 for an NFP professional, your organisation could advertise the annual salary package of $80,000, with the actual cost to the organisation of $63,000. Your employer determines your eligibility to access capped benefits, for example if you work within the public health sector or for a charity you will likely have access to salary package capped benefits. Salary packaging can reduce your taxable income however it can increase the gross value of your income. Members have full access to their salary package (PC, mobile, tablet) and can âself manageâ their salary package 24/7. Why not try our Salary Packaging calculator or Novated Lease calculator and see how much you may save by salary packaging with Paywise. What is a Novated Lease? If you would like to contact Grant Huisman directly via phone With Novated Lease Vehicles you can now pay for your car and save a huge amount of money while including all your running costs, this convenience is literally at your fingertips. feel free to call. 1800 555 582; Level 1, 1121 High St Armadale VIC 3143 [email protected] Return to Advantage Salary Packaging Website. Some of your gross salary is sacrificed in return for non-cash, employer provided benefits. An indicative average salary packaging administration fee of $220.00 has been included. You can salary package: up to $15,900 per FBT year if you work for a charity or not-for-profit organisation (equal to $611.50 per fortnight) up to $9,010 per FBT year if you work for a public or private not-for-profit hospital (equal to $346.50 per fortnight) Even if you have a HELP/HECS debt you could benefit from salary packaging. Itâs an easy way to attract and keep staff in this competitive employment market. Employer. Base salary doesnât always give the full picture. Use our calculators to see just how much you could save on your salary packaging or your next car. Typically, employees are paid a gross salary with income tax deducted through payroll, and are left to spend or save the rest. It is only intended to show a possible effect of packaging in a given scenario. How will my HECS/HELP debt affect my salary packaging? Choose an employer type that best describes your organisation: A public hospital, ambulance service or legal aid. The availability of any packaging benefit is subject to your employer's approval and compliance with the Australian Income Tax Assessment Act (1997). Just provide a few details and calculate your savings, then ⦠I am a casual employee, can I salary package? Salary packaging calculator. By reducing the amount of tax you pay, salary packaging will leave you with more money to meet your personal and financial needs. If you would like to contact Aaron Venema directly via phone Salary. Disclaimer: Please note the SalaryPackagingPLUS calculator is designed to give you an estimate on the potential increase to take-home pay when salary packaging and is not to be used as a substitute for external independent financial and/or taxation advice. Smartsalary can increase the take-home pay of your employees at no extra cost to you. Public Benevolent Institution (PBI) $17,000 Cap. $. In most cases you can salary package the cost of the financial advice or claim back in your income tax return. Salary Packaging allows you to pay for items that you have to pay for anyway, but in pre-tax salary. The implications of salary packaging for you (including tax savings and impacts on benefits, surcharges, levies and/or other entitlements) will depend on your individual circumstances. If you are earning under the tax-free threshold of $18,200 you may no longer be required to pay income tax or the Medicare levy therefore this could affect your ability to salary package and independent financial advice is recommended. Income tax savings based on the 2016/2017 financial year tax rates and includes Medicare Levy of 1.5%. Implementation of a cost effective salary packaging program. GO Salary is Australiaâs first fully interactive salary packaging experience. Allowances - Non Superable You may not be eligible to package all items included in the calculator. Saving money through salary packaging is a big help, but financial wellness is about your overall financial health; enjoying life, living comfortably and coping financially when the unexpected happens. feel free to call. Salary packaging is a smarter way for employees to use their salary to pay for a vehicle, a mortgage and many other everyday expenses before tax is calculated on their wages. feel free to call. Depending on what you are salary packaging, Fringe Benefits Tax, may or may not apply. feel free to call. Paywise has made all of the packaging and benefit items available to simplify what you package by supporting you on a day to day basis. Please refer to the legal and information policy tab below for details about these authorisations, and the services RemServ provides. Salary packaging could reduce your taxable income but may affect the way the ATO calculates your HECS/HELP repayments â which could leave you with a tax bill at tax time. Check out RemServ's salary packaging and novated leasing calculators to see how much you could save. Instantly calculate the affect the PBI Benefit can bring to your take home pay after any of the possible exempt benefit items have been paid for, such as rent, mortgage, and many more. The items you could package are determined by your employers salary packaging policy, and the industry sector you work in. If you are an existing customer and are needing to discuss your personal circumstances, please use the email address you have registered with us. Advantage Salary Packaging, Statements, Employer, Employee, Employer Group. The option of having a small fringe benefit provided instead of the equivalent amount of ⦠To achieve the same benefit without salary packaging you would need a gross salary of $0. Our fee covers the establishment and maintenance of your account as well as your FBT year end reporting. Quite simply, with salary packaging you: Spend part of your pay before tax is calculated. If you would like to contact Michael Martin directly via phone This $15,900 is taken out of her pre-tax salary, so sheâs only taxed on the remaining $44,100 per year, rather than her full $60,000 salary. Salary packaging is the easy way to boost your income. feel free to call. Conventionally most people buy their cars outright or get a car on finance. If you would like to contact Scott Hodgson directly via phone Know what you want? Book a phone consultation Are you transitioning to SalaryPackagingPLUS from ⦠Something better has now arrived. Which means more money in your pocket. The salary sacrificing benefits (part of salary packaging) comes into play when you choose to receive these non-cash benefits over a high cash salary. This reduces your taxable income. We make it simple for your employees to pay for cars, laptops and other great items out of their pre-tax salary. feel free to call. If you would like to contact Nicole Guala directly via phone feel free to call. Many benefit options, including salary packaging cards, meal entertainment and venue hire. Paywise is not licensed to provide you with financial advice. Try our salary packaging calculator to see just how much you could save. Learn more about the benefits available. See your savings instantly. Additional charged may apply for novated leases, meal entertainment cards and living expenses cards. So on pay day you pay less income tax and have more money ⦠Salary Packaging was created to save you money on daily items such as vehicles, portable devices and general day to day living expenses. This is known as your ‘adjusted taxable income’ which equals your salary plus the gross value of your fringe benefits ($50,000 +$17,667 = $67,667). Think different. 6 ⦠feel free to call. Salary packaging is an alternative way of being paid your annual remuneration, to optimise the take home benefits you receive. She takes advantage of the full amount of these benefits by salary packaging $15,900 (for things such as her groceries, utility bills, child care and a new laptop). Submit. Salary Sacrifice Calculator As mentioned above, salary sacrifice contributions count towards the concessional contribution cap. Advantage Salary Packaging Posted by Designer on Jan 14, 2015 in Post | 0 comments In simple terms, Salary packaging is an Australian Tax Office approved way of restructuring your income. If you would like to contact Emma Vassallo directly via phone NFP organisations benefit more than private or âprofitâ companies because they can offer non-cash benefits at a lower cost, making salary packaging much more attractive to employees. If you would like to contact Glen Thurbon directly via phone We can then make payments on your behalf or pay your salary packaging money back to you, up to ⦠It is recommended you seek advice and consider increasing your regular HECS or HELP repayments to avoid a debt at tax time. Smartgroup currently comprises a number of businesses with deep expertise in employee benefit programs including Novated Leasing services by Smartleasing. Salary packaging â also known as salary sacrifice - means allocating a portion of your salary to pay certain expenses before income tax is calculated. Salary. If you would like to contact Kate Toms directly via phone This salary packaging calculator has been designed to assist employees in determining the possible impact of packaging a range of items available and is not comprehensive. If you would like to contact Emma Vassallo directly via phone This is due to the terms and conditions of salary packaging cards, which require the card to be funded before a payment can be made. The option of having a small fringe benefit provided instead of the equivalent amount of cash salary is an attractive proposition.
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