Salary Packaging
Why Salary Package?
Salary packaging is an Australian Tax Office approved way of restructuring your income. It enables you to buy a range of everyday items out of your pre-tax salary rather than your after-tax salary - leaving more money in your back pocket.
By effectively salary packaging, you can increase your take home salary by thousands of dollars each year. Just take a look at the benefits:
Not Packaging
Gross Salary $2,640.00
PAYG Tax $574.00
Take Home Pay $2,066.00
By salary packaging you can increase your disposable income by $150.00 per fortnight or $3,900.00 per year. That's a significant difference!
Packaging
Gross Salary $2,640.00
Salary Package $446.00
New Gross Salary $2,194.00
PAYG Tax $420.00
Take Home Pay $1,774.00
Tax Benefit - Salary Pacakging Amount +$446
Disposable Income $2,220.00
Example calculation has been based on fortnight deduction $346.00 Threshold and $100 Entertainment Benefits.
How much can I salary package?
Full-time and part-time employees can salary package their regular base salary. Casual employees can salary package up to 80% of their income. Prior to starting salary packaging, we encourage all employees to seek independent financial advice - it is an employees responsibility to do this.
How much does it cost?
There are costs involved in Eastern Health administering all your salary packaging arrangements. The amount will depend on the benefit packaged and it is paid from your pre-tax salary.
For more information on these costs, refer to Eastern Health’s Salary Packaging Employee Information Guide or contact us on 1300 361 669.
How does Salary Packaging effect my HELP Debt, Centrelink etc.?
To find out how Salary Packaging could effect your HELP Debt, Centrelink and Child Support payments, click below.
Find out how much you could save.
See your savings instantly using the Salary Packaging calculator.
As an Eastern Health employee you can salary package a variety of expenses from your pre-tax salary!
$9,000 in Tax-Free Expenses:
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Everyday Living Expenses
Salary Package your everyday expenses including; Mortgage, Rent, Credit Card, School Fees and Private Health Insurance!
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BankVic Everyday Expenses Card
The BankVic Everyday Expenses Card allows you to make everyday purchases using your pre-tax salary anywhere Visa is accepted including; petrol stations, super markets, takeaway food vendors and clothing retailers.
Plus, you can salary package another $2650 in Entertainment Benefits:
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BankVic Entertainment Benefit Card
You can use your Entertainment Benefit Card when dining at restaurants, cafés, pubs, bistros and hotels. As well as accommodation expenses at hotels, through travel agencys and online booking sites such as AirBNB and Booking.com
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Entertainment Benefit
Be reimbursed with your pre-tax salary for Entertainment expenses such as; dining out with friends or family and holiday expenses in Australia or overseas.
You can also salary package other benefits over the capped limits, including:
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Novated Leasing
- Make tax savings and discounts on your car and related running expenses
- Bundle finance and running costs into one easy payment on payday
- Lease a new or used car
- Choose the lease term that suits your budget, from one to five years
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Superannuation
Pay less tax when you salary sacrifice additional superannuation as you save for retirement.
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Portable Devices
You may be able to salary package a portable deivice such as a laptop, tablet or mobile phone potentially saving you hundreds.
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Work-Related Expenses
Salary Package your work-related expenses such as trade subscriptions, membership fees and your EH Uniform.
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Professional Development
Want to undertake further learning? You may be able to claim your professional development expenses.
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Airline Lounge Membership
Whether you travel for work or personal, you can salary package your airline lounge membership.
Ready to start salary packaging?
Simply download and complete the form today.
