{"id":927,"date":"2022-12-04T14:16:18","date_gmt":"2022-12-04T03:16:18","guid":{"rendered":"https:\/\/www.salarypackagingpeople.com.au\/?p=927"},"modified":"2022-12-04T14:16:18","modified_gmt":"2022-12-04T03:16:18","slug":"what-things-can-you-salary-package","status":"publish","type":"post","link":"https:\/\/www.salarypackagingpeople.com.au\/what-things-can-you-salary-package\/","title":{"rendered":"What things can you salary package?"},"content":{"rendered":"

One of the questions we are most frequently asked is \u201cWhat Can I Salary Package\u201d and happily, the answer is most of your daily expenditures. This does depend on the tax status of your employer. Salary packaging is designed to help you save money when paying bills and expenses, and allows you to enjoy more of your after-tax income.<\/p>\n

While there are caps and limitations, the best way to understand how much you can salary package is to talk to your employer or salary packaging<\/a> provider.<\/p>\n

What are the five most common things that are salary packaged?<\/h2>\n

1.\u00a0\u00a0\u00a0 Cars<\/h4>\n

Irrespective of your employer\u2019s tax status, you can Salary Package a car by having a novated lease, whether it is for a new, demo or used car (even if you currently own one). The lease is an agreement between you, your employer and a selected finance company to cover the repayments and costs of running the car with pre-tax income.<\/p>\n

It is a win-win for employees and employers because your lease payments are based on the GST exclusive price of the car. Also, any GST paid on the car running costs during your novated lease is able to be claimed by your employer and credited back to your lease account. They are also hassle-free finance arrangements as most of the paperwork is completed by your nominated salary packaging company and employer.<\/p>\n

\"novated<\/p>\n

2.\u00a0\u00a0\u00a0 Superannuation<\/h4>\n

Super is one of the first things employees consider with salary packaging. It can boost your retirement fund with pre-tax income and you pay less tax on your take-home pay. The only applicable tax is the 15% contributions tax, payable by your Super fund, as it is considered another employer contribution.<\/p>\n

In addition, you may be able to receive 12.5% super contributions in your after-tax salary but these contributions may be slightly less because your taxable income has decreased. This program is designed to be particularly beneficial for first home buyers as you can access your super early to buy your first home and the more you have in super, the greater your borrowing capacity is.<\/p>\n

3.\u00a0\u00a0\u00a0 Meals and Entertainment<\/h4>\n

If you enjoy nights out, nice dinners at restaurants and holidays, you\u2019ll love salary packaging. Depending on your employer\u2019s tax status, you can claim up to $2650 each Fringe Benefits Tax (FBT) year for meals, entertainment and travel.<\/p>\n

There are two ways you can claim meals and entertainment:<\/p>\n