Austrial Posted August 31, 2014 Share Posted August 31, 2014 I have just come to Oz from UK. I have been told about salary packaging (salary sacrifice) schemes. Essentially, depending on your employer (Hospital, Commercial [e.g. Govt Departments, businesses], Not for profit organisations [Public Benevolent Institutions] and Rebatable [e.g. NGOs]), you are allowed to nominate certain amount of your salary (before it is taxed) for certain types of expenditures - e.g. expenses linked to having / running your car (see Novated car packaging scheme); or EPAC salary solutions card (for daily expenses like groceries, fuel etc), or rent / school fees or EPAC entertainment meal card. So basically, depending on your employer type and your own salary, you will be able to sacrifice a portion of your salary before it is taxed to spend on the above domains; resulting in you paying less tax. This is not suitable for everyone. This post is not meant as financial advice or tax advice. As I am very new to Oz, I found this tip useful so I thought I would share it with others too. Most will perhaps already know about it. If you did not know about this, please research EPAC salary packaging and Novated car packaging and you may get some helpful tips. Good luck, stretch your dollars by their collars!! Quote Link to comment Share on other sites More sharing options...
shellyk666 Posted August 31, 2014 Share Posted August 31, 2014 Thanks for sharing. I'll be sure to look in to this when we move over in October x Quote Link to comment Share on other sites More sharing options...
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