Check out our FAQs for answers to commonly asked questions about salary packaging with Maxxia.
This is what happens to your pay once you've set up a salary packaging account.
Hundreds of thousands of Australians benefit from salary packaging every year.
Salary packaging has been permitted by the Australian Taxation Office (ATO) since 1986. Since then, it's been used to retain and reward employees who work in industries like health and charity.
Eventually this expanded into the private and public sectors, and now hundreds of thousands of Australians are enjoying the benefits.
Many employers within the private and public sector offer salary packaging as a way to reward and retain their staff.
You could benefit from salary packaging even if you have a HECS/HELP debt. To find out if you could benefit, use our HECS/HELP calculator
If you work in the public health or charity industry, you can package certain items up to a set amount - referred to as your FBT exemption 'cap limit'.
The cap limit is the highest amount you can salary package within a Fringe Benefits Tax (FBT) year (1 April to 30 March) without incurring FBT.
If you salary package capped benefits over the cap limit, FBT will be applied - and you could pay tax on the extra.
From 1 April 2017, if you work in the health or charity sector you will also have access to a combined annual cap limit of $2,650 ($5,000 ‘grossed-up’) which applies to both Meal Entertainment and Venue Hire benefits each Fringe Benefits Tax (FBT) year.
If you change jobs during you need to contact us straight away to discuss your options.
You may have the option to:
If you have a novated lease:
Health employees can salary package a range of benefits up to $9,010 each FBT year.
This cap limit is based on payments that are not subject to GST. Payments subject to GST will have a cap limit of $8,172.
Not-for-profit employees can salary package a range of benefits up to $15,900 each FBT year.
This amount is based on payments not subject to GST. Payments subject to GST will have a cap limit of $14,421.
Some capped benefits include:
Some uncapped benefits include:
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