Learn how you could help employees save on income tax with SmartTM .
Salary packaging, also called salary sacrificing, is an ATO-approved way employees could minimise their income tax and maximise their earnings. Certain everyday goods and services are paid for out of their pre-tax income as part of their salary package. This can include buying and running a car, known as a novated lease.
With salary packaging, employees’ packaged expenses are paid for before tax is taken out. This reduces taxable income so they could pay less tax. And with many expenses already paid for, there's more left to spend on other things.
Salary packaging is a cost-effective way of increasing employee remuneration to help attract and retain high-calibre staff. As a result, you can enjoy more engaged employees, lower staff turnover and reduced recruitment costs.
We customise a program for your organisation and integrate our systems with your existing payroll system. You have a secure employer portal accessible 24/7, while we take care of as much administration as possible. For employees, we make it simple to access and maximise their benefits, with competitive fees and market-leading education and tools.
The benefits you choose to offer will depend on your industry and tax status, and your organisation’s goals. Click on your industry to see benefits commonly offered.
This is general information only. Before entering into any salary packaging or novated leasing arrangement, employees should consider their own objectives, financial situation and needs, and seek appropriate legal, financial or other professional advice based upon their own particular circumstances. The availability of benefits is determined by the employer. Conditions and fees apply. Smartsalary Pty Ltd, ABN 24 096 796 100, a SmartTM company.
