Salary Packaging in Australia
Items commonly salary packaged include:
- vehicles (either a company car or through a novated lease)
- mobile phones
- laptop computers
Some companies also allow their employees to salary package other items, including household utility bills, although this is complicated and normally requires the assistance of a third-party company who specialise in salary packaging arrangements.
Charities and public & not for profit hospitals can do this most effectively as they are exempt from fringe benefits tax up to a certain limit per employee (currently $9095 for public hospitals)
Salary packaged benefits in Australia generally attract Fringe Benefits Tax within the Australian taxation system, with a few exceptions - some benefits are Fringe Benefits Tax exempt, including mobile phones and laptop computers.
Read more about this topic: Salary Packaging
Famous quotes containing the words salary and/or australia:
“Social and scientific progress are assured, sir, once our great system of postpossession payments is in operation, not the installment plan, no sir, but a system of small postpossession payments that clinch the investment. No possible rational human wish unfulfilled. A man with a salary of fifty dollars a week can start payments on a Rolls-Royce, the Waldorf-Astoria, or a troupe of trained seals if he so desires.”
—John Dos Passos (1896–1970)
“It is very considerably smaller than Australia and British Somaliland put together. As things stand at present there is nothing much the Texans can do about this, and ... they are inclined to shy away from the subject in ordinary conversation, muttering defensively about the size of oranges.”
—Alex Atkinson, British humor writer. repr. In Present Laughter, ed. Alan Coren (1982)