Salary packaging
Salary packaging is a tax effective way of receiving a salary as a combination of income and benefits. By doing this you may be able to reduce your level of income tax.
This can be achieved as benefits are paid for from pre-tax income, so when your tax is calculated it's based on a lower income, potentially reducing the amount of income tax paid and as a result increasing your take home pay.
Items that people salary sacrifice include*:
- motor vehicles
- additional superannuation
- car parking
- child care
- rental
- loan payments
- plus much more.
Salary packaging and superannuation
Superannuation contributions through a salary packaging arrangement are exempt from Fringe Benefits Tax. By doing this you're able to pay the contribution in pre-taxed dollars and as a result the contributions aren't taxed as income. This provides a tax break and helps you to create more wealth for your retirement.#
Call us today on 13 QPCU (13 7728) for more information or click here to enquire online.
*Employer eligibility requirements may apply.
# This material does not take into account your personal needs, objectives and financial circumstances. Please read the relevant Product Disclosure Statement to decide if the product is right for you.
QPCU's in-house financial planners are employed by QPCU and licensed to provide financial planning advice through Executive Wealth Management Limited ABN 38 078 629 973 (AFSL No. 245451).