Mortgage
Unlock your salary by packaging your mortgage!
By salary packaging your mortgage you could increase your net disposable income each pay.
RemServ offers flexibility with your payments enabling you to either have your funds paid directly into your mortgage account or be provided with a reimbursement for payments.
This benefit does have a maximum amount you can allocate to your mortage which is based on your employer. To find out more about this limit please review your employer's Salary Packaging Policy.
How does it work? Example
Joanne, a not-for-profit hospital employee entitled to a 17,000 cap, earns an annual salary of $40,000 per annum (excluding her employer's super contributions) and is considering salary packaging the maximum allowable amount of $9,095 towards her mortgage payments.
By choosing to salary package her mortgage repayments, rather than paying for them from her post-tax salary. Joanne could increase her net disposable salary by $2,401 per annum or $92 per fortnight.
EXAMPLE ONLY
| Item | Not Packaging | Packaging |
| Joanne's Annual Salary |
$40,000 |
$40,000 |
| Mortgage Repayments (packaged pre-tax) |
$0 |
-$9,095 |
|
Fringe Benefits Tax |
$0 |
$0 |
| Joanne's Taxable Salary |
$40,000 |
$30,905 |
| Tax & Medicare Benefit |
-$6,600 |
-$4,199 |
| Joanne's Post-Tax Salary |
$33,400 |
$26,706 |
|
Mortgage Repayments (paid post-tax) |
-$9,095 |
$0 |
| Joanne's Net Disposable Salary |
$24,305 |
$26,706 |
| JOANNE'S ESTIMATED ANNUAL BENEFIT |
N/A |
$2,706 |
| JOANNE'S ESTIMATED FORTNIGHTLY BENEFIT |
N/A |
$92 |
