Why should I salary package?
Salary Packaging
Reduce your taxable income
We all want to pay less tax, right? With salary packaging you potentially can, by paying for some expenses with your pre-tax wage – think mortgage, rent, work-related costs and everyday items such as groceries.
When you salary package, you’re still paying for your usual expenses, but with pre-tax dollars – meaning you are reducing your taxable income and, in turn, potentially increasing your taxable income.
Enjoy more spending money
At each pay cycle you could have more money to spend on the things you want – such as new clothes or a well-deserved weekend away. The choice is yours.
Save on the cost of running your car
By salary packaging a car through novated leasing, you could reduce the cost of keeping your vehicle on the road – and, perhaps, finally afford your dream wheels. Basically you bundle the lease and the car’s running costs (including fuel, registration, insurance, servicing and maintenance) into one regular payroll deduction. And because you’re using a combination of pre- and post-tax dollars, you’re not only saving time but money, too. You don’t need a huge income to benefit, and you can package a new or used car, or even your existing vehicle.
Disclaimer: This general information doesn’t take your personal circumstances into account. Please consider whether this information is right for you before making a decision and seek professional independent tax or financial advice. Employers should independently consider whether a benefits program is appropriate for their organisation and seek advice where appropriate. Conditions and fees apply, along with credit assessment criteria for lease and loan products. The availability of benefits is subject to your organisation’s approval. Maxxia may receive commissions in connection with its services. Maxxia does not act as your agent or representative (or provide you with any advice or recommendations) in respect of the purchase of any vehicle.