Salary Packaging
Salary packaging is a tax-effective way of getting more out of your pay. Salary packaging is commonly referred to as 'salary sacrificing' or 'flexible remuneration planning'.
With salary packaging, you are able to use your pre-tax salary to pay for things like children's education, personal contribution to super, and insurance premiums.
For example, your salary package could include a car lease. Your employer would pay the lease amount on your behalf using your pre-tax salary, you receive less cash therefore pay less PAYE income tax.
There is a broad spectrum of benefits that you may be able to package as part of your salary and spending time with your Cameron Walshe financial planner can be well worth exploring these. During a review, we can determine if salary packaging is a viable option for you.
Some of the employee benefits that may be able to be packaged are:
- Superannuation
- Car benefits
- Loan related benefits
- Childcare and recreational facilities
- Income protection insurance
- Employee share plans and
- Membership fees and subscriptions.
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