Organisations are facing increased competition to attract and retain quality employees. Many of them are realising that salary packaging/sacrificing is a key component of an effective remuneration and benefits strategy. It takes more than just good working conditions and competitive salaries to attract and keep good people.
About Salary Packaging
Salary packaging is a means of allowing employees to effectively restructure their income to reduce the amount tax they pay. Employees can choose to receive their salary as a combination of cash and benefits. These benefits are either tax free or taxed at concessional rates.
Prosperity’s salary packaging services offer real advantages to both employers and their employees. Our program can assist employers to improve morale and attract and retaining high quality employees, without increasing costs, or burdening administration.
What can be packaged
Prosperity works closely with employers to introduce a suite of benefits to your business that can enhance the lifestyle of every employee.
- Car leasing (novated lease)
- Personal insurance
- Superannuation contributions
- Interest on investment loans etc.
Not-for-profit and rebateable tax status organisations enjoy additional benefits that are exempt from Fringe Benefits Tax (FBT). These organisations can package additional benefits including:
- Mortgage/Rent payments
- Personal living expenses
- Eating out
- School fees
- Personal loans
If you would like to discuss your salary packaging needs with one of our specialists or use our lease calculator, please contact Prosperity Advisers Salary Packaging.