of your salary entitlements w hat is salary of your salary - - PDF document

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of your salary entitlements w hat is salary
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of your salary entitlements w hat is salary of your salary - - PDF document

Nov 26, 2023 147 likes •333 views

of your salary entitlements w hat is salary of your salary entitlements packaging? Rather than paying for some of your expenses in your after-tax income, you choose to pay for some of your expenses in your pre-tax income .

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w hat is salary packaging?

  • Rather than paying for some of your expenses in your

‘after-tax’ income, you choose to pay for some of your expenses in your ‘pre-tax income’.

  • Tax is then payable on the amount left after these

expenses are paid.

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w hy package your salary?

  • You can reduce your taxable income.
  • You can potentially pay less tax.
  • The result – more money for you.
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w hat expenses can be packaged?

  • Your new car
  • Your current car(s)
  • Car parking
  • Airport Lounge Memberships
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how much extra w ill salary packaging deliver?

Vehicle/s $35,000 (value) Employee Contribution Method $3384 On-site Child Care $4000 (value) $1510 Total $4894 Item Being Packaged Value/Consumption (example only) Additional after tax take home pay p.a.*

*Varies significantly dependant on employee salary and value of items being packaged. Based on income of $80,000 p.a. Typically, the greater the salary, the greater the increase in take home pay. Typically, Remunerator Salary Packages save clients between $3,000-$15,000 p.a..

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w hat does an extra $4,894 take home mean for employees earning $50,000 p.a.

  • Nearly equivalent to a 20% pay increase
  • A family holiday
  • Fast-track the mortgage
  • Renovate the home
  • Better vehicle/s
  • More nights out
  • Better wardrobe
  • More superannuation
  • Private school fees for the kids

The additional take home pay is significant!

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sound to good to be true?

  • Salary Packaging certainly does sound too good to be

true, but it is a legitimate form of tax effective

remuneration that is provided by 73% of Australian

  • rganisations to their employees.
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is it legal?

  • Salary packaging is a legal practice and is endorsed

by the tax department; the Federal Government

  • ffers salary packaging to their employees.
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how does it w ork?

  • We’ll briefly highlight 2 case studies of a ‘typical client’,

and show how our ‘typical client’ takes home an additional $4,894 p.a. by salary packaging with Remunerator.

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taking full advantage of the 2 major expenses you can package

  • Vehicle/s – contribution method
  • On-site Child Care
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Your next car!!

You earn (gross) $80,000 $80,000

Total taxable income $80,000 $72,988 Income tax payable $21,049 $18,341 You take home $58,951 $54,647 Employee Contribution $ 6,620 Lease / Running Costs $14,308

Cash remaining $44,643 $48,027

This employee takes home an additional $3,384 each year. NO FBT is payable in this case study.

WITHOUT Salary Packaging WITH Salary Packaging Total cost of Motor Vehicle package $ $ 7,012

*Employee Contribution Method

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how do I take advantage of vehicle packaging via Remunerator?

  • EASY… we can assist by:
  • Car purchasing service, including sourcing (new or second hand)
  • Insurance review, competitive quote
  • Fuel and maintenance (via motorcharge)
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lap top

You earn (gross) $70,000 $70,000

Total taxable income $70,000 $66,364 Income tax payable $17,400 $16,254 You take home $52,600 $50,110 On-site Child Care $ 4,000

Cash remaining $48,600 $50,110

This employee takes home an additional $1,510 each year.

Then you package: On-site Child Care $ 4,000 Refund of GST $ 364 WITHOUT Salary Packaging WITH Salary Packaging

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how much extra w ill salary packaging deliver?

Vehicle/s $35,000 (value) Employee Contribution Method $3384 On-site Child Care $4000 (value) $1510 Total $4894 Item Being Packaged Value/Consumption (example only) Additional after tax take home pay p.a.*

*Varies significantly dependant on employee salary and value of items being packaged. Based on income of $80,000 p.a. Typically, the greater the salary, the greater the increase in take home pay. Typically, Remunerator Salary Packages save clients between $3,000-$15,000 p.a..

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how you can take full advantage w ith Renumerator

  • We help you maximise your salary entitlement
  • We are able to pay your expenses
  • We deliver you more money each fortnight
  • One on one personal assistance
  • Access to the right information and support
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w here to from here?

  • Buy New or Used car (Novated Lease) - 1800 501 703
  • Package your existing Car - 1800 220 028
  • Financial Advice and other enquiries - 1300 654 834
  • Website
  • www.remunerator.com.au
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