Salary packaging

[wee_me]

Hi

my work offer salary packaging- I have read up on it but still don't fully understand it- how do I know if I'll need to pay for something called fringe benefit tax

my employer is a non profit organisation

 

If I spoke to an accountant about this how much would they charge- anyone know?

thanks

[portlaunay]

Hi

my work offer salary packaging- I have read up on it but still don't fully understand it- how do I know if I'll need to pay for something called fringe benefit tax

my employer is a non profit organisation

 

If I spoke to an accountant about this how much would they charge- anyone know?

thanks

 

I'm no expert but I do it with my current employer. I take little interest in money so when the company came around to promote it and told me it would mean extra cash each month I signed up. I declared it on my tax return and didn't suffer any FBT penalties at all but I imagine everyone's circumstance is different.

 

I was with Smart Salary but there may be other companies out there doing it.

[Sarah1975]

I too have salary sacrifice as I work for a non for profit organisation. When I first heard about it I wasn't too sure but I find it is fantastic and pay very little tax. I have just had an accountant complete my tax return for you and declared fringe benefits if about $30,000 and am still due a rebate!

 

It's definitely worth doing as you save thousands on tax, in addition to your tax free allowance I think it is about another $16,000 + or so that you can have tax free by using salary sacrifice. I use it to the max with a visa debit card and a meal entertainment card.

 

If you want more specific info let me know and I'll explain in detail how it works.

 

All the best

Sarah