That’s right, you can actually increase your take home pay with salary packaging and at SDP we are currently offering salary packaging at fees from 1%.
Salary Packaging is an Australian Tax Office (ATO) approved way of reducing the amount of income tax you pay by paying for items such as business expenses as a pre-tax salary payment.
Superannuation plays an important part in securing your lifestyle in retirement. Apart from the compulsory super contributions made by your employer (called ‘super guarantee’ or ‘SG’), you can contribute extra to your super fund at any time to help increase your savings for the future.
You can put in as much money as you like into your super, however there are limits on how much you can contribute before you pay extra tax.
The different caps depend on the type of contributions made into your super fund.
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Salary Packaging, sometimes referred to as salary sacrificing, is an Australian Taxation Office (ATO) approved way of receiving benefits such as novated or associate car leasing, deduction of professional/personal expenses from gross salary, laptop packaging and LAFHA; by way of a pre-tax salary payment. By paying for these items before tax means that you will be taxed only on your remaining income – meaning reducing your taxable income, meaning you pay less tax!