Report Save. A government (excluding health), university or 'For Profit' organisation. Find out more. A charity, medical research institute or aged care facility. If you are interested in receiving a call about how you can save salary packaging enquire here. Please click the following link to view a salary packaging … Watch this short video to find out more. Greenfleet is a registered environmental charity dedicated to helping the community reduce the environmental impact of travel, business and lifestyle choices. Salary packaging calculator Find out how much you could save by salary packaging a few everyday expenses. Employer. Since you work at a charity, salary packaging is a way for them to pay you an equivalent salary compared to a business that could afford to pay you a higher salary. Discover salary packaging Find out how PBI or HPC employees can reduce income tax and boost their take home pay. If you work in public health or for a charity, there's extra perks. Per my understanding the annual cap per empoyee is $30,000 and restircted at an employer level. You can salary package … Running cost calculator Find out how much your current car is costing you with our running cost calculator. You must declare your reportable fringe benefit along with your taxable income when your income is being assessed. To calculate Dennis’ Income for Family Tax Benefit entitlements Centrelink will do the following: Reply. As a result of accessing the FBT Exemption, employees of HPC Organisations are eligible to Salary Packaging up to $15,899.93 of tax free benefits per FBT year. Our Customer Care Team will be able to prepare a salary packaging analysis that you can give to Centrelink. Public Benevolent Institution (PBI) $30,000 Cap. level 1. Flexible working arrangements. You can nominate to package up to $15,899 per year for general expenses such as your mortgage, rent, credit card, or even phone and electricity bill. Spending pre-tax dollars from your salary will decrease the stated gross income on your Payment Summary (group certificate). This exemption is subject to a cap of $30,000 ($17,000 for public and non-profit hospitals and ambulance services) in grossed up benefits provided to … Dennis is employed by a Health Promotion Charity and is currently salary packaging rent payments to the value of $15,899 through his employer. Smartsalary. $30,000 as salary; $30,000 as non-cash benefits; Again, the employee will only pay income tax on the salary component, meaning that the employee will now end up with more like $57,000 in their pocket. If you choose to salary package the $15,900 & $2,650 benefits, that money is deducted from your pre-tax salary. 5. Expenses paid on the credit card that are claimed elsewhere cannot typically be included in a salary package. While charity employees are often drawn to support social justice causes, they still value incentives and rewards for their hard work and dedication. A health promotion charity ... As a result of accessing the FBT Exemption, employees of HPC Organisations are eligible to Salary Packaging up to $15,899.93 of tax free benefits per FBT year. Example: self education expenses, claimed on tax return. goods and services tax (GST) charity concessions, and; fringe benefits tax (FBT) exemption. They’ll accept 100% of your packaged income as long as it’s consistent and can be verified with an employment letter . Salary packaging cards are a way of streamlining salary packaging under the living expenses and meal entertainment capped limits. Novated. Car salary packaging is, without a doubt, one of the most popular benefits targeted for salary sacrificing through novated leasing. This helps our staff make the most of their income. Catch-e is a cloud based fleet leasing, salary packaging and fleet management software system. Share. Novated Leasing. You pay tax only on the remaining portion of your salary, not the salary packaged money, significantly reducing the income tax you pay, resulting in increasing your take-home pay. Salary. STEP 3. Optimising employee benefits for the charity sector. STEP 2. Packaging a vehicle Barnardos employees working over 17.5 hours per week and employed on pay level 33 or above of the Barnardos Australia Enterprise Agreement 2011 have the option of packaging a vehicle as part of their salary. Funds are deposited into your salary packaging account each pay cycle once received from payroll. How does salary packaging work? Process and Payment Options. Additional benefits and rewards OK, now we need a little more detailed information about you. Contact. Both those organisations are FBT exempt as they are Registered health promotion charity endorsed by the ATO. Select Credit Card Repayments, the amount you would like to package and your preferred packaging / payment option. The new activism-inspired packaging is reflection of the company's past and also serves as a nod to the future. Our work doesn’t always fit the 9 to 5. This allows the health promotion charity or PBI to provide salary packaging which is attractive to their employees. Salary packaging allows you to reduce the amount of tax you pay, thereby increasing your net salary. Workers in public health, not-for-profits or charitable organisations often have great salary packaging benefits. car leasing. Please click the following link to view a salary packaging worked example for HPC Employees. If you opt to salary sacrifice a car , you can get a new vehicle using pre-tax dollars, thereby saving money in the process. Salary packaging calculator Find out how much you could save on income tax with our salary packaging calculator. Resembling the iconic buttons and badges of the 1970s, the new Tom’s of Maine packaging features a … You can salary package: up to $15,900 per FBT year if you work for a charity or not-for-profit organisation (equal to $611.50 per fortnight) up to $9,010 per FBT year if you work for a public or private not-for-profit hospital (equal to $346.50 per fortnight) Even if you have a HELP/HECS debt you could benefit from salary packaging. Go to calculator. If you’re employed as full-time or part-time staff , you can increase your take home pay by taking advantage of salary packaging. You pay tax only on the remaining portion of your salary not the salary packaged money, significantly reducing the income tax you pay. The most common salary packaging items are superannuation, fringe benefits such as car or living allowance. You might be able to salary package things like rent or your groceries or mortgage. Evidence Required. Salary packaging helps you save money plus pay off uni debt. Submit the calculation to us by completing the form BELOW and selecting submit. To complete your application with Beyond Bank, you’ll need to have some ID handy (refer Evidence required). With salary packaging, a larger portion of your pay can remain tax free, thanks to our Fringe Benefits Tax exemption. Salary Packaging may or may not impact your family assistance payments from Centrelink. Payroll remits all salary packaging income deductions to Southgate but retains any budgeted FBT deductions (if applicable). Smartsalary. Salary packaging . packaging calculator. Our business knowledge and insights will enhance your systems and processes. Contact Us. It is complemented by staff who have a depth of fleet management industry experience. Answer these questions to help find the package that suits you. ... As one of Queensland’s largest salary packaging providers, we’ll help you deliver maximum benefits and … Salary packaging annual limits Salary packaging limits are set for a Fringe Benefits Tax (FBT) year. Venerable naturals brand Tom’s of Maine is rolling out new packaging that marks the biggest visual overhaul in the brand’s 50-plus year history. This allows you to pay for certain expenses like mortgage, rent, or school fees upfront before tax is taken out. Payment and Reimbursements Commence Southgate pays for the fringe benefits on your behalf from your salary packaging account. Salary packaging is a government incentive that allows you to use money that previously would have been paid as tax to pay for the items which you have chosen to salary package. The bankers would think “Now wait a second, your salary has been reduced by salary packaging so we must assess the reduced amount.” It only took them a couple of years to figure out that a person with an $80,000 salary with salary packaging effectively means they are earning $85,000 and so the borrowing capacity went up accordingly. Go to calculator. About. That’s an extra $8,000 to what they would have received if the $60,000 allocation had been paid as salary only. The salary packaging services offered under this CUA are governed by the Government’s Guidelines for Remuneration Packaging ... Area benefits, as well as Meal Entertainment and Venue Hire benefits and Salary Packaging Cards for eligible Health and Charity employees. Who is Greenfleet? Maxxia makes it easy to reward your employees with a new car and other cost savings through novated leasing. solutions. Do you know. By using a card, you eliminate the administrative burden of sending in evidence to claim expenses, while still accessing the tax advantages of salary packaging. STEP 4. Salary Packaging Card (Beyond Bank) Payment: Other. ... As one of Australia’s largest salary packaging providers, we help you deliver maximum benefits and a great experience. We will contact you to ensure we can assist you and answer any questions you have. Our best lender for salary packaging can assess part of your income as “tax free” which means they can lend you significantly more than other lenders. Salary packaging calculator. The FBT year runs from 1 April to 31 March, and the amount you can salary package depends on the type of organisation you work for. I have been advised that one of the benefits of working for a NFP is the I can treat the first $15,000 of my income as tax free. As a registered charity and not-for-profit organisation, we can provide our staff with generous tax breaks. The benefits of salary packaging It all sounds as great as a free lunch, except of course there is no such thing; that is, unless your employer is a hospital, charity or other non-profit organisation that is fringe benefits tax (FBT)-exempt or rebatable. ID checks with Beyond Bank will all be completed online and as part of application with them. Salary sacrifice is an arrangement to package or sacrifice part of an employee's salary in return for desired benefits. Salary packaging. Complete the Salary Packaging Calculator to work out how much you can save.
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