Tag "Salary Packaging"

Salary Packaging Q&A – What are the implications of refunding excess employee contributions?

Question: An employer has provided a staff member with a motor vehicle as part of a salary package arrangement. The staff member ma…

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Salary Packaging: Salary Packaging Relocation Costs

The Fringe Benefits Tax Assessment Act  provides for substantial concessions where an employer pays for various costs associated w…

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Salary packaging expense payment benefits

In Taxation Ruling TR 2012/8, Commissioner considers whether amounts received in respect of legal costs incurred in disputes concerning termination of employment should be included in assessable income as an employment termination payment or as an assessable recoupment where the legal costs are tax deductible for income tax purposes.

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Salary packaging long-service awards

An employer may provide a benefit to an employee in respect of long service. Such a benefit will be exempt from FBT so long as the taxable value does not exceed $1,000 for 15 years of service and an additional $100 per year above 15 years.

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Salary packaging car benefits under an associate lease arrangement

Prior to the FBT legislative changes pertaining car benefits introduced with effect from 10 May 2011, motor vehicles used to be taxed at a very concessional value if the employee travels a large number of kilometres or there is a high percentage of business use

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Salary packaging superannuation contributions

Superannuation is an attractive benefit to package as it is excluded from the definition of ‘fringe benefit’ so there is no FBT payable on superannuation contributions made by the employer to a complying superannuation fund for the benefit of an employee under a salary package.

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How Salary packaging affects private health insurance rebate and Medicare levy surcharge

Salary Packaging of course reduces your taxable income and is then represented on your PAYG Summary as a Reportable Fringe Benefit.

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Salary packaging in-house benefits

Australia’s fringe benefits tax regime provides for a concessional treatment in respect of in-house benefits provided by employers to employees.

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Rebatable Employers ‘ Salary Packaging Advantages

Salary packaging can be very effective when the employer is a rebatable employer. The rebate concession applies to certain non-profit associations, schools, religious institutions, etc. Benefits provided by these institutions are effectively taxed at about half the FBT normal employers would pay. However, it is subject to a cap of $30,000 per employee. The limit […]

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Salary Packaging – Common fringe benefits that are salary packaged

It is possible for all types of fringe benefits to be salary packaged, but the best opportunity to maximise tax savings arises from any one, or a combination, of…

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