can I salary package my rent? At Selectus, we call it salary packaging, and it can help you save on costs in areas you might not have even considered. For those renting in a remote area, you can package up to 50% of your total rental costs without paying any Fringe Benefits Tax (FBT). Mortgage / Rent payments Novated lease vehicles Operating Leases Paywise Card Relocation benefits Remote area benefits Self education Superannuation Workplace Giving Other deductible benefits Employers Charities When you salary package, you pay for some expenses with your pre-tax salary. A salary sacrifice arrangement is when you agree to receive less take-home income from your employer in return for benefits. Package Requirements 50% of your Rental payments will be added to … These benefits are paid out of your pre-tax salary. Salary packaging can sound confusing, but in reality it’s quite simple: it’s all about helping you get the most from your pay. Remote Area Benefits If you live and work in a remote area let us know, as additional allowances are available, meaning you may be able to save even more. Salary sacrifice Employee voluntary, plus the Total contribution amount The third bullet point is specifically referring to a salary sacrificed super payment. As a Queensland Government employee, you are eligible to take advantage of salary packaging and you could save on tax, lower your taxable income and increase your take-home pay! Remote Area Benefit is a tax concession from the Australian Federal Government which allows eligible employees to claim up to 50% of certain expenses associated with living and working in a remote location, as well as some Eligible RemServ customers could potentially save on their rental costs by salary packaging their rent payments. Let your salary drive you further Novated car leasing is a great way to finance your car with great added benefits. This is where 100% of the Salary packaging allows you to pay for items you would normally pay for in after-tax dollars, with before tax-dollars. Enjoy the benefits of salary sacrifice There are so many benefits of salary sacrifice. aren't An employee can devote up to 100% of their salary to either salary sacrifice to superannuation or to salary packaging (subject to the exemption cap), or to a combination of both. Salary packaging is a simple way for eligible NSW Health employees to increase their take home pay by reducing their taxable income and therefore the amount of tax they pay. As a rule of thumb, if you’re driving a car and paying tax, you could be saving approximately $3,000 in tax per year. Novated Leasing is the largest of the benefits. Remote Area Fly-In, Fly-Out Travel Benefit The Fly-In, Fly-Out (FIFO) Travel Benefit is available to eligible employees who work in a remote area and are required to regularly travel from their usual place of residence to How much could you save by salary packaging? A great price on your new car No GST to pay on your car purchase Save on tax by using pre-tax income on insurance You can salary package your Rent payments for the home you are living in, in a designated remote area where it is rented through either a real estate agent or a private rental. Hi, Just wondering if i am working for employers residing in a remote area, and I am working remotely from a different remote area. Remote Area benefits. If I lived in Bris then nope but out here it's ok. It's an agreement between you and an employee, which allows them to sacrifice some of their salary in return for a benefit. Remote area concessions can also apply to NFP organisations that provide benefits to an employee. * Salary Sacrificed Superannuation Other Benefit Types The following benefits can be salary packaged in conjunction with the $15,899 or $9,009 cap limit subject to you meeting certain criteria: * Novated Leasing * Remote Area E.g my employer in Victoria (remote area) and I am living and work for this employee in QLD ( remote area ) … Through salary packaging you can use up to $9,009 of your pre-tax income each year towards an approved personal expenses. Remote Area Housing Benefits Example Tom lives and works in an ATO approved remote area. Any other salary sacrifice arrangements (e.g. Salary package and save every day with Advantage Salary packaging is the easy way to boost your income Salary packaging – also known as salary sacrifice - means allocating a portion of your salary to pay certain expenses before income tax is calculated. Depending on your role, if eligible, this benefit allows you to potentially save on remote area rental. A Remote Area is defined as a post code or in the absence of post code, a suburb /town name that is difficult to serve. rent, vehicle, etc.) Salary Packaging At Toyota Fleet Management, we are specialists in salary packaging. This arrangement can reduce the amount of tax you pay and increase your take home salary. Salary packaging calculator Employer solutions About Smartsalary Novated car leasing Contact Smartsalary Salary packaging calculator Answer these questions to help find the package that suits you. Guides and forms Remote area benefits reimbursement claim form Remote area rent application form Remote area mortgage interest application form Fly-in fly-out (FIFO) application form Remote area benefits brochure Fly-in fly Rent (Remote Area) Home Rental Repayments Your Rent payments for your own home can be included in your salary package up-to the threshold limit (capped) for your industry sector, per fringe benefits tax (FBT) year. Who can package remote area housing? You initially pay for the expenses up front and are then reimbursed for your selected Salary Packaging items using the funds from your Salary Packaging account. Please refer to the Remote Area Salary Packaging Information Booklet for more information about what you could package under this benefit. Salary packaging is an Australian Taxation Office approved way of restructuring your salary to use pre-tax income to buy a range of everyday items. You can salary package interest on your mortgage, purchase costs of your house or rent repayments if you live and work in a designated remote area and your employer offers this as part of your workplace benefits … package 50 per cent of his rent as remote area rent so he gets his salary packaging firm to pay for his whole rent whereas Jane only asks them to pay her credit card. Salary sacrificing FIFO travel costs Daniel Hodgson and Hayley Lock discuss the compromises employers need to consider to encourage employees to work in remote locations on fly-in-fly-out (FIFO) arrangements. A delivery to one of the following post codes and towns would attract a Remote Area surcharge. Eligible expenses include: Eligible expenses include: Rent or mortgage If you live and work in a remote area you could save by salary packaging your housing repayments or rental costs. If I lived in Bris then nope but out here it's ok. He earns an annual gross salary of $150,000. Additional salary packaging benefits are available if you work in an area classified by the ATO as remote. rent mortgage repayments school fees loan or credit card repayments everyday purchases such as bills, groceries and fuel. The tax outcome of Living in a remote area actually does have some great benefits. Depending on your Employers status and the benefits that they offer, the funds can be used to pay for a variety of different expenses such as a Novated Lease, and possibly Rent/Mortgage, Electricity and other … Whether you're a corporate or in government, education, health or PBI - we can help you calculate your savings online with our salary sacrifice calculator > *figures used are retail prices and do not include fleet discount for eligible Rent is ok to sacrifice out here because we are classified as a remote area according to ATO rules. Remote Area Rent: Example 1: Packaging remote area employer provided property - Where an employee resides in employer provided housing they may salary package 100% of the rental FBT free. Remote area benefits Employees who live and work in an area classified as “Remote” by the Australian Tax Office (“ATO”), may be able to access Remote Area Housing Assistance and/or Remote Area Holiday Transport. ** Remember, that Jane only filled in the form to claim the $9,095 on credit card. The below example demonstrates how Tom can utilise the remote area benefits in order to For some cases, you can even package 50% of your rent, providing your employer is in a remote area. From novated leases and running costs on a vehicle, to superannuation, electronic devices, work-related travel and more, salary packaging can make a real difference …
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