Salary Packaging solutions that benefit your business
Want a way to reward your employees, attract new staff and save on your tax bill? The benefits of salary packaging may surprise you, and it won’t cost you a thing.
No cost rewards
It’s easy to reward your employees with salary packaging and best of all, it doesn’t cost you anything. You even have the potential to save tax.
You’ll be helping your employees make more from their hard-earned money, without needing to give them a pay rise, as they can use their pre-tax income to pay for expenses that they’d normally pay from their take home pay. This will make them feel more valued and encourage loyalty. If you want to be an employer of choice, then salary packaging is an essential offering.
What you may not know is that you can claim the cost of a novated lease as a business expense and it could also reduce your payroll tax. Plus, by outsourcing your salary packaging to a reputable provider, you’re assured of complete taxation compliance, up to date products and services, no extra stress on payroll and much less paperwork.
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How does Salary Packaging benefit my business?
No Cost To You
Offering the benefits of salary packaging to your staff won’t cost you or your business anything. All the administration fees are paid by the employee through pre-tax deductions from their pay. Even then, the administration fees that your staff pay are minimal.
Incentivise Staff
Encourage loyalty and longevity by becoming an employer of choice. Salary packaging offers the three R’s of staff incentives; recruit, reward and retain. It’s difficult to find good staff, now more than ever, so a progressive salary packaging program is essential for helping you find and keep the right people.
Claim Expenses & Reduce Tax
As novated lease cars are technically leased through your company, you can claim the lease – and their running costs – as business expenses. In addition, with the right set up, a reduction in your employee’s pre-tax income can result in a decrease of your Payroll Tax obligations.
