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of your salary entitlements

of your salary entitlements. what is salary packaging?. 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.

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of your salary entitlements

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  1. of your salary entitlements

  2. what is salary packaging? • 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.

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

  4. how much extra will salary packaging deliver? • On a salary of $30,000 p.a. our clients achieve an average saving equivalent to an 16.2% pay rise based upon this salary level.

  5. sound to good to be true? • 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? • Salary packaging is a legal practice and is endorsed by the tax department; the Federal Government offers salary packaging to their employees. ATO APPROVED

  6. how much will be saved by packaging $16,050? Annual Savings Savings Salary Per YEAR Per FORTNIGHT $20,000 $2,236 $ 86 $25,000 $2,402 $ 92 $30,000 $2,402 $ 92 $35,000 $3,302 $127 $40,000 -$50,000 $4,940 $190 $60,000 – $70,000 $4,940 $190 Examples include Remunerator fees

  7. what expenses can be packaged? • Home Mortgage • Rent • Health Insurance • Utility Expenses • School Fees / HECS • Child, Aged & Disability Care • General Insurance • Credit Card Repayments • Personal Loan • General Expenses $16,050 limit applies to the above items Maximum $617 per fortnight

  8. Total taxable income $ 30,000 Income tax payable $ 3,960 You take home $ 26,040 Then you pay for: Mortgage/Rent/Utilities/Expenses/Personal Loan etc. $ 16,050 Cash remaining $ 9,990 sample income with no salary packaging You earn (gross) $30,000

  9. Then you package: Mortgage/Rent/Utilities/Expenses/Personal Loan etc. $ 16,050 Administration Fees $ 303 Total taxable income $ 13,647 Income tax payable $ 1,255 You take home $ 12,392 Cash remaining $12,392 sample income with salary packaging You earn (gross) $30,000

  10. sample income with salary packaging • On an income of $30,000 p.a., you would be in front by $2,402 each year with salary packaging! • That’s $92 extra cash every fortnight!

  11. what else can be packaged? • Meal Entertainment • Laptop Computer and/or PDA These items can be packaged in addition to the $16,050 See us to find out more

  12. how you can take full advantage with Remunerator • 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

  13. where to from here? • Visit our website at www.remunerator.com.au Go to Client area login: Username: benevolent password: packaging • Contact a Remunerator Customer Service Officer email: charities@remunerator.com.au Tel: 1300 654 834 • Complete your online application and submit substantiation documents required promptly • To assist us in ensuring you maximize your entitlement it is important that you supply: • Pay slip • Proof of major expenses, such as rental or loan agreement

  14. of your salary entitlements

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