Salary Sacrificing

Salary Sacrificing

Do you want more money in your pocket?

Salary sacrificing allows you to do more with your pay packet. Instead of claiming work related tax deductions at the end of the financial year, salary sacrificing allows you to receive the reimbursement in your next pay.

It also allows for vehicle and motorcycle leases to be paid from pre-tax salary. By making regular contributions from your post-tax pay towards your fringe benefits tax (FBT) payment you are able to pay this tax over an extended period of time and not all in one lump sum at the end of the FBT year.

Day to day work related expenses can also be salary sacrificed such as mobile phone costs, protective clothing and laptop computers.

Salary sacrifices need to be approved in advance. Please call PayMe to discuss your needs.

What can be salary sacrificed?

• Superannuation contributions above that provided by the 9% Superannuation Guarantee
  Note: there are new limits recently imposed by the Commonwealth so we recommend that you seek independent advice
• Work related expenses for items not provided by your employer such as:
• mobile telephones where the majority of use is for work,
• protective clothing,
• tools of trade,
• laptop computers and electronic diaries where the majority of use is for work,
• internet usage by percentage used for work related use,
• subscriptions to professional work related journals,
• airport lounge membership if you travel for work, and
• financial advice.

For those with vehicle or motorcycle leases PayMe uses an arrangement with American Express, at no cost to you, to capture your business expenses for the purposes of salary sacrificing. This is an easy and ATO compliant way to capture your costs.