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All posts tagged Salary Packaging

Too much Super = Tax on Super

Posted on March 28, 2014 by Raj Sesha in tax with Comments Disabled

Extra Tax on Super

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 – Contractors Increase your take home Salary

Posted on May 22, 2013 by Elaine McKelvey in contractors with Comments Disabled

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!