Living in a remote or regional area and salary packaging your mortgage interest, or rent, could increase your tax savings.
This is general information only. Before entering into any salary packaging or novated leasing arrangement, you should consider your objectives, financial situation and needs, and seek appropriate legal, financial or other professional advice based upon your own particular circumstances. The availability of benefits is determined by your employer. Conditions and fees apply. Smartsalary Pty Ltd, ABN 24 096 796 100, a Smart™ company.
The ATO website lists ‘remote area’ towns. Visit https://www.ato.gov.au/Business/Fringe-benefits-tax/In-detail/Fringe-benefits-tax---remote-areas/ to see if your area qualifies as ‘remote’ or ask your employer. Like all salary packaged items, you can’t claim an income tax deduction on packaged remote area expenses. Smart is unable to make your rent, mortgage interest, or utility payments on your behalf – salary packaged amounts will be reimbursed to your nominated bank account.