Salary Packaging

Make the most of your benefits:
Presentation for:
Queensland Government employees
What We Will Cover
How Salary Packaging Can Save You Tax!
Salary Packaging Guidelines
Salary Packaging Benefits
Novated Leasing
Getting Started!
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RemServ
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Please Note
The information provided in this session is factual information only
and has been prepared without consideration of your personal
circumstances.
Financial advice is not mandatory when commencing salary
packaging, however RemServ and Qld Government strongly
recommend seeking your own independent advice.
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Who Is RemServ?
Your salary packaging provider
Qld s largest salary packaging provider
Part of Australia s largest salary packaging group
Headquartered in Brisbane
locals servicing locals
Offering award winning customer service to over
110,000 customers
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Saving Tax
CURRENT SITUATION
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WITH SALARY PACKAGING
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Salary Packaging Guidelines
You can salary package up to 100% of your salary
towards Super*
You can salary package up to 50% of your salary
towards items other than Super
Casual employees who have been employed for
under 12 months are ineligible to Salary Package
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What Can You Salary Package
NO FBT PAYABLE
FBT Year- 1st April to 31st March
YOUR PACKAGE
Superannuation
Professional Memberships & Subscriptions
Airport Lounge Memberships
Union Fees
Disability/Income Protection Insurance
Self Education
Work Related Travel
Laptop / Mobile Phone / I Pad
50%+ work related
CONCESSIONAL ITEMS
Novated Lease
10%/GST Off
Purchase Price
Fuel, Maintenance
Pay finance & operating costs
from pre-tax salary
(Flat FBT Rate of 20%
irrespective of annual kms)
Your Super & Salary Packaging
When you salary package your super contributions are
paid from your gross income as opposed to your net salary
What s your taxable income &
HOW MUCH COULD YOU SAVE?
Marginal Tax Rates*
Super Contributions
Tax Rate
$80,000
30%
15%
$80,001 - $180,000
37%
15%
$180,001+
45%
15%
Taxable Income
$37,001
*Above lower threshold. Plus 1.5% Medicare levy
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Super Example
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ITEM
CURRENT
PACKAGING
ANNUAL SALARY
$50,000
$50,000
FORTNIGHTLY SALARY
$1,923
$1,923
Standard Contribution (5.88%)
$0
-$113
Fringe Benefits Tax (FBT)
Nil
$0
Administration Fee
Nil
-$1.35
TAXABLE SALARY
$1,923
$1,809
Tax & Medicare Levy
-$358
-$322
POST TAX SALARY
$1,565
$1,487
Standard Contribution (5%)
-$96
$0
NET CASH SALARY
$1,469
$1,487
FORTNIGHTLY BENEFIT
$0
$18
RemServ
ANNUAL BENEFIT
$0
8
$468
QG In-house Benefit - Electricity
Under the Queensland Government In-house benefit you can
salary package your electricity bills up to $1,333.33 per FBT year.
1. Your bill can be addressed to you, a spouse or relative
2. Excludes some charges such as service fees and
loans
3. Queensland locations only
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Electricity Example
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ITEM
CURRENT
PACKAGING
ANNUAL SALARY
$50,000
$50,000
FORTNIGHTLY SALARY
$1,923
$1,923
Electricity bills
$0
-$51
Additional Superannuation
(packaged pre-tax)
$0
-$113
Fringe Benefits Tax (FBT)
Nil
$0
Administration Fee
Nil
-$3.46
TAXABLE SALARY
$1,923
$1,755
Input Tax Credits
$0
$5
Taxable Salary after ITCs
$1,923
$1,760
Tax and Medicare
-$358
-$306
POST TAX SALARY
$1,565
$1,454
Electricity bills
-$51
$0
Additional Superannuation
(paid post-tax)
-$96
$0
NET CASH SALARY
$1,418
$1,454
FORTNIGHTLY BENEFIT
$0
$36
RemServ
ANNUAL BENEFIT
$0
10 $936
How Does It Work?
Step 2 Employer
sends fortnightly
deductions to
Employees
RemServ trust
account
Step 1 Employee
sets fortnightly
deductions to be
made into their
RemServ trust
account
Step 4 RemServ
reimburses
employee
from available funds
in their trust account
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Step 3 Employee
receives bills, pays
these as usual and
sends proof of
payment to
RemServ
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www.remserv.com.au
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Novated Lease Benefit
Fuel
Purchase Price of a new car
Maintenance
Registration
100% Personal use of the car
No Obligation Quote
New, 2nd hand car or your current car
Financiers from a selected panel
Fully Maintained or Self Managed
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The Benefits
Kilometres Travelled*
Statutory % FBT Purposes
Less than 14,999
20%
15,000 24,999
20%
25,000 40,000
14%
Over 40,000
10%
*Based on total annual kilometres: private and business use!
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Budgeting For Your Car
Let s work out the budget for a car worth $30,000, leased
over a 3 year term, where you are driving 20,000kms a year!
ITEM
ANNUAL
EXPENSE
FORTNIGHTLY
EXPENSE
INPUT TAX
CREDITS
Lease Repayments
$8,000
$307
$728
Fuel Costs (10 litres/per 100kms)
$3,400
$131
$309
Maintenance
$1,000
$38
$91
Registration
$600
$23
$0
Insurance
$600
$23
$0
$522
$1,128
TOTAL $13,600
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Novated Lease Example
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ITEM
CURRENT
PACKAGING
ANNUAL SALARY
$50,000
$50,000
FORTNIGHTLY SALARY
$1,923
$1,923
Lease & Operating Costs
(packaged pre-tax)
$0
-$292
Fringe Benefits Tax (FBT)
Nil
$0
GST on Employee
Contribution Method
Nil
-$21
Administration Fee
$0
$7.96
TAXABLE SALARY
$1,923
$1,602
Input Tax Credits (ITC)
Nil
$43
Fortnightly Salary after ITC
$1,923
$1,645
Tax & Medicare Levy
-$358
-$270
POST TAX SALARY
$1,565
$1,375
Lease & Operating Costs
(paid post-tax)
-$522
$0
Employee Contribution
$0
-$230
NET CASH SALARY
$1,043
$1,145
FORTNIGHTLY BENEFIT
$0
$102
ANNUAL BENEFIT
$0
RemServ
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An Expert In Your Corner
I would like to express my
thanks for the professional,
timely and courteous
service I received from my
Fleet consultant. Since our
first contact he has been
very accessible and his
response time to all my
queries was nothing short
of phenomenal.
(Queensland Government employee)
One-stop-shop for all your car needs including finance, insurance and accessories
No need to visit a car yard No more wasted Saturdays
On-going after sales care If we can help we will!
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*Conditions apply
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Your Total Package
YOUR PACKAGE
Superannuation
Electricity bills
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Novated Lease
ANNUAL BENEFIT
TOTAL
$3,925
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Getting Started
Complete an application form today
and hand to your presenter
CALL: 1300 73 66 62
Complete an application form
MAIL: GPO BOX 424,
Brisbane Qld, 4001
EMAIL: [email protected]
FAX:
1300 30 18 66
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