of your salary entitlements what is salary packaging

of your salary entitlements

what is salary packaging? of your salary entitlements • Rather than paying for some of your expenses in your ‘after-tax’ income, you choose to pay for some of your expenses in your ‘pre-tax income’. • Tax is then payable on the amount left after these expenses are paid.

why package your salary? • You can reduce your taxable income. • You can potentially pay less tax. • The result – more money for you. of your salary entitlements

how much extra will salary packaging deliver? of your salary entitlements • On a salary of $35, 000 p. a. our clients achieve an average saving equivalent to an 8% pay rise based upon this salary level.

sound to good to be true? of your salary entitlements • Salary Packaging certainly does sound too good to be true, but it is a legitimate form of tax effective remuneration that is provided by 73% of Australian organisations to their employees.

is it legal? of your salary entitlements • Salary packaging is a legal practice and is endorsed by the tax department; the Federal Government offers salary packaging to their employees.

how much will be saved by packaging $9, 095? of your salary entitlements Annual Salary Savings Per YEAR Savings Per FORTNIGHT $20, 000 $1, 265 $ 48 $25, 000 $1, 265 $ 48 $30, 000 $2, 016 $ 77 $35, 000 - $70, 000 $2, 672 $102 Examples include Remunerator fees

what expenses can be packaged? • • • Home Mortgage Rent Health Insurance Utility Expenses School Fees / HECS • • • of your salary entitlements Child, Aged & Disability Care General Insurance Credit Card Repayments Personal Loan Private Travel Staff can package up to 50% of their salary $9, 095 limit applies to the above items Maximum $350 per fortnight

sample income with no salary packaging of your salary entitlements You earn (gross) $35, 000 Total taxable income Income tax payable You take home $ 35, 000 $ 6, 375 $ 28, 625 Then you pay for: Mortgage/Rent/Utilities/Expenses/Personal Loan etc. $ 9, 095 Cash remaining $19, 530

sample income with salary packaging of your salary entitlements You earn (gross) $35, 000 Then you package: Mortgage/Rent/Utilities/Expenses/Personal Loan etc. Administration Fees $ 9, 095 $ 282 Total taxable income Income tax payable You take home $ 25, 623 $ 3, 421 $ 22, 202 Cash remaining $22, 202

sample income with salary packaging of your salary entitlements • On an income of $35, 000 p. a. , you would be in front by $2, 672 each year with salary packaging! • That’s $102 extra cash every fortnight!

what else can be packaged? of your salary entitlements • Meal Entertainment • Lap tops • PDA’s These items can be packaged in addition to the $9, 095 See us to find out more

how you can take full advantage with Remunerator of your salary entitlements • We help you maximize your salary entitlement • We can pay your expenses directly • We deliver you more money each fortnight • One on one personal assistance • Access to the right information and support

where to from here? of your salary entitlements • Complete the form provided for a no obligation meeting with your Remunerator Representative. • Go home and tell your family you just got the equivalent of an 8% pay rise*. (*Based on $35, 000 p. a. salary) • We will contact you in the next 3 working days to confirm an appointment at your work site. To assist us in ensuring you maximize your entitlement it is important that you bring: • Pay slip • Proof of major expenses, such as rental or loan agreement

of your salary entitlements