Q 5: What is a Fringe Benefit?

Ans:       A Fringe Benefit is a ‘payment’ made, on behalf of an Employee, for a non-work-related item such as a Mortgage Payment, paid directly to the Bank without having paid PAYG Tax on that income.

Q 4: What is Salary Sacrifice?

Ans:       Salary Sacrifice is your Employer paying some voluntary contributions, from your weekly or fortnightly income, to a complying Superannuation Fund, without this income being taxed. The Super Fund then pays a Contributions Tax of 15% to the ATO from the...

Q 3: What is Salary Packaging?

Ans:       Salary Packaging is your Employer paying some money, from your weekly or fortnightly income, to a Salary Packaging Administrator, to pay for some personal expenses without this income being taxed. The Administrator can pay the nominated personal expenses...

Q2: How much do I need to earn to Salary Package?

You have to be paying tax to get a tax benefit. The minimum income you need to earn before you pay any tax is $18,200; however, the minimum income will be above this amount based on your personal situation. As there are many factors that influence the amount you need...