Salary Packaging Home Loan Payments. Watch Our Salary Packaging Videos Get Tips and Tricks Here! The employee won't pay income tax on the salary sacrificed funds that are used to pay their home loan repayments Tax on $71,134 is $15,008 resulting in a savings in tax of $3,059 per year.
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When you salary package your home loan, you'll be making repayments on your mortgage from pre-tax dollars Employee of an FBT-exempt employer with a salary packaging cap of $30,000
Salary Packaging The Pros, Cons, And Risks, And How To Determine If It's Right For You YouTube
You can only salary package home loan repayments for a property you live in; you cannot salary package repayments for an investment property.. Those working with a non for profit organisation or charitable institution: These organisations are either exempt from Fringe Benefits Tax (FBT) or receive a 47% rebate on the FBT. This payment is taken out pre-tax, meaning that while Georgina's salary is still $80,000, her taxable income after the salary sacrifice is now $71,134
Salary Packaging will Effect Family Tax Benefit. on 1300 889 743 to talk to a mortgage broker that specialises in lending to people who have pre-tax deductions in their pay. The Maxxia Wallet - the other set-and-forget benefit!
Employers Salary Packaging Solutions. Your loan must be paid directly by your employer so often we set up a line of credit style accounts to accommodate this requirement. with the potential benefit of reducing interest payments over the life of the loan and paying off the mortgage earlier than expected.