Salary Packaging
Get the benefits that mean the most to you
Salary packaging, also known as salary sacrificing is an easy and convenient way to pay for regular expenses and maximise your money. The expenses you can package depend on your employer and your industry, but some common options include:
- Novated Lease
- Superannuation
- Rent or Mortgage
- Meal and Expense Cards
What is salary packaging?
A salary packaging arrangement is where you swap a portion of your pre-tax salary for perks like a Novated Lease, the latest technology like a computer or phone, or even everyday items like your phone bills or childcare costs. It’s a smart way to stretch your income further by saving on taxes while enjoying the benefits that matter most to you.
Get in touch with us today to see how much you could save.
What can you salary package?
Extend the benefits of salary packaging to cover essential living costs such as rent, insurance, and school fees, helping you pay even less tax.
Enhance your retirement planning by making pre-tax contributions to your superannuation fund. This will help grow your retirement savings faster and reduce your current taxable income.
Drive your dream car while enjoying the financial benefit of paying with pre-tax dollars. This arrangement not only reduces your taxable income but also simplifies car ownership.
Keep up-to-date with the latest technologies, which classify as exempt benefits for your employer who wont have to pay FBT on them. Buy a new laptop, smartphone, and more using pre-tax dollars from your salary. You could save significantly and stay ahead in the tech game!
How it works
Salary packaging is an Australian Taxation Office (ATO) approved method of receiving your remuneration package in a combination of cash salary and non-cash benefits, such as cars, living expenses, professional membership fees, and extra superannuation. The benefit of reducing your taxable income is you may pay less income tax.
Anyone who is employed, and has approval, is able to salary package and potentially save thousands of dollars each year. Note that benefits differ between industries, sectors and businesses — such as a Meal & Entertainment Card (link) — and some benefits require an employer to pay fringe benefits tax (FBT).
The car you want for less
Novated Leasing - also known as salary sacrificing or salary packaging - a car is where you bundle together the finance and running costs of your car into one easy package which comes out of your salary each pay. The benefit to doing this is you save income tax on the running costs of your car which you will have to pay anyway. You also don’t pay tax on the purchase price of the car, saving you more money in the long-term.
A novated lease often saves more due to tax advantages and bundled costs, unlike a car loan paid with post-tax income, though it requires employer involvement. Request a comparison from your leasing specialist to see which works for you.
Yes, you need to be an employee paying income tax to unlock the benefits of novated leasing. If you work for any not-for-profit organizations, you can also be eligible.
You can take out a novated lease for a minimum of 12 months and maximum of 60 months.
Yes, you can take out as many as you can afford and save tax with a salary sacrifice on each car in your household.
Get the wheels in motion
Ready to jump in the seat of your new car? Let’s get this show on the road!