We have the experience, skills, flexibility, dedication and range of products and services to offer you a one stop shop for any of your finance and taxation requirements.
Built through our attention to detail and traditional customer service values, we firstly listen to your requirements and then customise our products and services to suit you.
Years of experience has resulted us in building relationships with market leading suppliers and the benefits of these relationship are fully passed on to you.
The most important item you need to provide is a completed Salary Packaging Application form so that we can establish your salary deductions exactly how you want them. It also means that we can keep in touch with you about your package and any of our other products, services or special offerings.
To ensure that your Salary Packaging structure is compliant with the rules and regulations of the ATO, the applicable legislation and/or your employer, there are some copies of documents required for substantiation purposes.
The details you need to provide is dependent upon whether the expense that is paid from your salary package is a fixed (regular) or variable expense.
Fixed expenses are usually those where the payee stays the same month after month. Examples of these are Mortgage payments, Rent Payments, Loan Payments, etc. The substantiation of these expenses is usually very simple and would be a statement, rental or loan agreement that shows who needs to be paid, when and how much.
Variable expenses are a little more complex to substantiate as the ATO regulations state that they don’t accept a copy of a one off document as proof. For example, you need to provide a copy of a bill for every medical expense that you have paid.
Unfortunately if you don’t provide the correct substantiation, we can’t process the required expense. Details of the required substantiation is on our Salary Packaging application form however if you are still unsure of what is required, just contact us and we’ll help you through.
When you complete your Salary Packaging Application, you are requested to nominate how you want the expenses paid.
Fundamentally there are 2 methods of payment. These are:
We prefer to transact payments either directly to a bank account of yours or a suppliers or through BPay to the supplier. This ensures that the money reaches the required destination as quickly and accurately as possible.
If an alternative method of payment is required, you will need to let us know so that the appropriate arrangements can be made. We do not though transact with cash.
This largely depends on the benefits that you wish to Salary Package.
The principle behind Salary Packaging is that you use your pre-tax salary to pay your nominated expenses. This results in a decrease in your taxable income meaning that you pay less income tax.
As you would understand, the Government are not that benevolent to allow you to just reduce the amount of income tax you pay. Therefore they declared that as these benefits are paid for you by your employer in lieu of your salary, Fringe Benefits Tax will apply to the value of your benefit.
As your employer has access to some tax exemptions from the Government, you can salary package without incurring an FBT Liability up to a limit of $17,000 ‘grossed up’.
The ATO definition of ‘grossed up’ is:
“Increasing the taxable value of a benefit to reflect the gross salary an employee would have to earn at the highest marginal tax rate, including the Medicare levy, to purchase the benefit using after-tax dollars.”
Effectively this means that you can salary package ‘non-exempt’ expenses that are GST free up to the value of $9,010 each FBT year. In other words you can pay your mortgage payments or similar to the value of $9,010 tax free.
For any benefits that are deemed as ‘Exempt’, FBT does not apply to these therefore you can salary package any of these tax free. This depends somewhat on your employer’s policy so it is best that you check with them or us before you decide on these.
The tax impact on Novated and Associate Leases is different again. We therefore suggest that you look through the Novated and Associate Lease section of this website first then contact one of our experts for further information and guidance.
We are here to help you, so don’t hesitate to contact us with any questions.
The benefits and savings that you will experience through Salary Packaging depends upon:
As a guide to the amount of benefits and savings, based on your employer type, the following is a matrix of the estimated advantages to you salary packaging Non-Exempt NCB’s up to your full capping limit of $17,000.
Monthly estimated Benefit
These figures are based on the assumption that you would have normally paid all of the expenses that you will salary package from your after tax income.
If you add other NCB’s such as exempt items and a Novated Lease, the above estimates will adjust accordingly.
Contact one of our Salary Packaging experts for a fully itemised estimate.
The information we have provided here is very generic and intended to enable you to make an educated decision on whether you participate in Salary Packaging.
As we are unaware of your personal financial and taxation circumstances, we strongly recommend that you seek independent financial advice prior to commencing any salary packaging.
Due to your employer’s tax status, the Australian Tax Office (ATO) has determined that you can salary package some of your private dining expenses on top of your salary packaging limit.
Therefore, I addition to your living expenses you can package a number of entertainment, leisure and holiday expenses. Some of the expenses that can be packaged include:
To make things really easy for you, we issue you with a Debit Card so all you need to do is charge your expenses against the card like you would usually do with your own credit card.
There’s a lot more information about this, which one of our experts can help you with. Just give us a call on 03 5229 4200 and we’ll answer all of your questions.
The fee we charge for Salary Packaging is dependent upon the agreement that we have in place with your employer.
Therefore you can either consult your employer’s Salary Packaging policy or handbook or give us a call on 03 5229 4200 and we’d be only too willing to disclose it to you.
We make this really easy. You can:
Whichever way you choose, we can have you set up and enjoying the financial benefits of Salary Packaging in no time at all.
Our primary expertise is in the administration of Salary Packaging programs and we’ve successfully done this for over 25 years.
What a lot of our customers don’t know though is that we have a range of complimentary services available to our customers. These include:
Due to the size and nature of our business and our affiliation with our suppliers, we can provide these products and services at a cost far less than traditional suppliers.
Further information is available in other sections of our website.
The next time you need any of the above, give us a call to see what we can save you.