Remuneration and reward is what employees value most1 and salary packaging could help you offer more.
Employer and employee alike, we’re all trying to manage costs. Salary packaging is a win-win arrangement that could help you offer a more competitive remuneration package – with no extra cost to you for set-up or delivery.
Salary packaging is a powerful HR tool that can elevate your organisation’s employee value proposition.
Set yourself apart as an employer who cares about helping employees maximise their financial wellbeing, with the potential for significant cost savings and flexibility that salary packaging offers – particularly in tight economic times.
Salary packaging could increase the overall value of the remuneration you offer potential candidates. For many, driving a brand-new car through a novated lease has strong appeal. Packaged relocation expenses could also make the difference in securing the best talent.
Low compensation is a key reason for people leaving their jobs.2 SmartTM is ready to help you boost awareness and drive uptake of novated leases and other benefits with educational materials and webinars, to help maximise employees’ income and keep them engaged.
Being able to attract quality employees and keep them engaged is the foundation of a strong organisation and essential for achieving your goals. Salary packaging could help you:
Studies show that overall remuneration has a significant influence on employees when choosing a new job or deciding to stay with their existing employer.2,3
- IPSOS: What Australia Thinks, Feels and Does at Work
- IPSOS: What Australia Thinks, Feels and Does at Work
- Randstad Employer Brand Research 2024. Australian talent insights.
Novated leasing – the term for salary packaging a car – is one of the most cost-effective and convenient ways to buy and run a car and could save employees thousands of dollars on GST and income tax, particularly with an eligible electric vehicle (EV).^
Making it easier for employees to save on electric vehicles has wider benefits.
Electric vehicles produce no tailpipe emissions, which can help lower your organisation’s overall carbon footprint.
Increased EV use can align your transportation policies with broader sustainability goals such as reduced reliance on fossil fuels and promotion of renewable energy sources.
Supporting EV uptake can show you to be a forward-thinking and environmentally responsible organisation, enhancing your standing with environmentally conscious talent and existing employees, and partners and suppliers.
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.
^ Fringe Benefits Tax (FBT) exemption available for eligible electric, plug in hybrid or hydrogen cell vehicles purchased through a novated lease up to the Luxury Car Tax limit ($91,387 in FY 2024-25). Plug-in Hybrid Electric Vehicles will only be eligible for the exemption if the vehicle is delivered, and the vehicle lease commences, before 1 April 2025. Vehicle delivery times are not guaranteed and subject to factors outside of Smart's control. Smart will not be held responsible where vehicles are delivered after 31 March 2025 due to such factors.
