Salary Packaging
Some employers offer to provide their employees fringe benefits in place of part of their salary in an arrangement called salary packaging. Such arrangements, if available, can be an effective way of reducing the employee's income tax by reducing salary. Though the employer is the party liable to pay FBT, many employers will recover the FBT liability from the employee, usually as part of the packaging arrangement.
Read more about this topic: Fringe Benefits Tax (Australia)
Famous quotes containing the word salary:
“The salary cap ... will be accepted about the time the 13 original states restore the monarchy.”
—Tom Reich, U.S. baseball agent. New York Times, p. 16B (August 11, 1994)