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:
“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)