Category Archives: salary sacrifice

04 Jan 2016

Your 2016 salary packaging resolutions

Your 2016 salary packaging resolutions

Welcome to 2016 – a new year – a new you! We’re all full of good intentions for the year, whether it’s to eat healthier or improve our financial situation. Here’s a look at how salary packaging can help with your new year’s resolutions: 1. Eat healthier If you have a meal entertainment card why not try out a healthy restaurant? Here’s a look at the healthiest cafes and restaurants in Australia. Don’t forget – the new meal entertainment cap comes into play on 1 April 2016 so make the most of it between now and March! 2. Improve finances Salary Read More

16 Sep 2015

Salary package the new iPhone 6s

Salary package the new iPhone 6s

  Details of the new iPhone 6s and iPhone 6s Plus have been released this week. Whenever Apple release their latest models we’re eager to see what’s changed, and according to them “The only thing that’s changed is everything”‘! After much speculation we learnt that the latest addition to the iPhone line up now features 3D Touch, a more advanced camera, faster processing times, faster Wi-Fi and it’s now available in a rose gold finish! You can see the full phone specs on the Apple website. The new models will be available to buy in Australia from 25 September, with prices starting Read More

25 Jun 2015

. Those who work in the education sector are able to make their money go further through salary packaging. Here’s a look at five of the top benefits: 1 -Superannuation There’s been lots of talk in the press about superannuation, we’re being encouraged to boost our super funds to make sure we can retire comfortably. Salary sacrifice is a great way to do this, and something teachers are taking advantage of. A set amount is deducted from the employee’s pay each month before tax and paid into their nominated super fund. 2 -Vehicle With a novated lease, teachers are able to save on their car Read More

01 Apr 2015

  Happy new (FBT) year! 1 April marks the start of the 2015/2016 FBT (Fringe Benefits Tax) year, here’s a quick look at what the new year could hold for you: New threshold amounts If you work for a public hospital, a private not-for-profit hospital or a Public Benevolent Institute (PBI) you are entitled to a number of tax-free items each year. These items include living expenses, rent and mortgage payments and are capped at either $9,010 or $15,900 for 2015/2016 depending on your employer. To see how much you are entitled to, check your balance and see your salary packaging reports log in Read More

16 Mar 2015

  The Fringe Benefits Tax (FBT) year runs from 1 April-31 March, this is the period during which some of your salary packaging benefits are calculated, and the year end is fast approaching – here’s a few tips to make sure you get the most out of your allowance: Living Expenses Card If you work for a not-for-profit organisation and you have a Smartsalary Living Expenses/Everyday Purchases Card you will need to spend all of the funds on your card by 31 March 2015 to maximise your tax savings. What can I spend on my card? You may want to Read More

23 Oct 2014

Salary package the new iPad Air 2

Salary package the new iPad Air 2

  The latest addition to the iPad range was unveiled last week in the US and it’s now available to purchase in Australia. At just 6.1mm thick and weighing less than 500 grams, the iPad Air 2 is the thinnest tablet in the world! The Air 2 has a few new features to its predecessor: – Touch ID – Better cameras – Improved retina display – Faster Wi-Fi – Anti reflective coating to reduce glare for outside use Save 30-45% off the cost If you use a tablet primarily for work purposes (at least 51% of the time) and your employer offers Read More

10 Sep 2014

Salary package the iPhone 6

Salary package the iPhone 6

Details of the new iPhone 6 and iPhone 6 plus were released overnight. After much speculation we learnt that the latest addition to the iPhone line up is the thinnest to date, it has a new retina HD display, new video functionality and an increased battery life (music to our ears!) You can see the full phone specs on the Apple website. The new models will be available to pre-order in Australia from 12 September, with prices starting at $869 for the 16GB iPhone 6. Save up to 45% off the cost If you use your phone primarily for work purposes (51% Read More

04 Sep 2014

Make a saving this Father’s Day!

Make a saving this Father’s Day!

: Father’s Day is almost upon us this year, if you’re stuck for ideas on what to buy your favourite man, here’s how your salary packaging can help: Treat him to dinner If you have a Smartsalary Meal Entertainment card, take your Dad out for a tax-free dinner this Sunday! So long as you are dining in a restaurant, cafe or pub/club you can salary package the whole expense with your Meal Entertainment card. But remember – you can’t just take Dad out for a few drinks, you must be lining your stomachs too! Take him to see his favourite Read More

: 1st July marks a new financial year and as a result of the Federal Budget a few things will be changing for 2014/15. Here’s a look at how salary packaging will be impacted: Superannuation There are caps on the amount you can pay to your superannuation fund each year through concessional (pre-tax) contributions. This year the superannuation concessional contributions cap will increase to $35,000 for employees aged 50 and over and to $30,000 for those under 50 years of age. This means up to an extra $10,000 allowance for superannuation packaging compared to last year. So the caps for the 2014/15 financial Read More

29 May 2014

The salary packaging world can be a bit confusing, and the technical terms don’t help matters! Here’s a look at some of the jargon you may come across and a brief explanation of what each term means: Salary packaging – also known as salary sacrifice, salary packaging is an Australian Tax Office (ATO) approved way of restructuring your income. It enables you to buy a range of everyday items out of your pre-tax salary rather than your after-tax salary – leaving more money in your back pocket. Threshold or cap – employees of a public health service, medical research institute, aged care Read More