Salary packaging in Australia, also known as salary sacrifice, is a benefit your employer can offer. It lets you pay for everyday items and services using part of your salary before it's taxed.
This system, approved by the ATO, is a helpful way to boost your take-home pay. It works by reducing the tax you pay on your salary. So, when payday comes, you have less tax deducted and more money to spend on what's important to you.
In a traditional income setup without salary packaging, every dollar earned goes directly into your taxable income, which could mean you get less money in your pocket at the end of the day and have less flexibility with your finances.
With Xpress Salary Packaging, you restructure your income, you can allocat pre-tax dollars for certain expenses and reduce your taxable income, resulting in a more advantageous financial position and a boost to your disposable income.
At Xpress Salary Packaging, we understand that your financial needs are unique. Our services are particularly advantageous for individuals in Healthcare, Charity, Aged care, or Not-for-profit sectors, offering a variety of options to maximise your income.
Your ability to benefit from salary packaging depends on your industry and your employer's policies. Curious about how much you could save? Use our Salary Packaging Calculator to tailor a package that suits your needs and maximises your financial potential.
Forget the complexity of financial management. Xpress Salary Packaging simplifies the process for you. Enjoy the benefits of real-time financial tracking, comprehensive support available online, by phone, or in person, and inclusive car leasing options. Our goal is to make managing your financial benefits as easy as possible.
Tailored benefits that resonate with your vital role in healthcare.
Maximising the impact of your selfless and charitable work.
Strategic solutions to optimise your earnings.
Empowering your financial journey with bespoke packages.
Salary packaging is a financial benefit tailored to your esteemed profession. It allows you to allocate a portion of your pre-tax income to cover expenses such as mortgages, rent, bills, and more. By doing this, you can significantly reduce your taxable income and increase your take-home pay.
Healthcare professionals, charitable workers, corporate and government professionals, and professionals in private education, non-profits, unions, and spiritual leadership can typically participate in salary packaging programs. Eligibility may vary depending on your specific employer and location.
Depending on your profession, you can include benefits such as Novated Leasing for vehicles, allocation of pre-tax income to cover everyday living expenses such as mortgage or rent, entertainment expenses, and exempt benefits such as laptops, airline lounge access, home office expenses, long-term car parking, financial advice, and employer-provided child care.
Salary packaging has the benefit of reducing your taxable income by utilising your pre-tax dollars for eligible expenses. This approach has the potential to lead to a diminished income tax liability and an increase in your net income.
There may be a small administration fee associated with setting up and managing your salary packaging, but the potential tax savings often outweigh this cost.
Yes, you can use Novated Leasing to save money when purchasing a vehicle. It allows you to make payments for a new or used car from your pre-tax income, leading to reduced taxable income.
Enrolling in a salary packaging program typically involves contacting your employer's HR or payroll department to express your interest. They will provide you with the necessary forms and information to get started.
Yes, there are usually limits imposed by the government on the amount you can salary package in certain categories, such as everyday living expenses or entertainment. These limits may vary depending on your employer and location.
Yes, you can often make changes to your salary packaging arrangements, such as adjusting the allocation of pre-tax income to different benefits, as long as it complies with the rules and limits set by your employer and applicable laws.
If you change jobs or employers, your salary packaging arrangement may need to be reviewed and adjusted accordingly. It's essential to communicate with your new employer and the salary packaging provider to ensure a smooth transition.