Salary packaging

Your salaries are the basis for building wealth, and salary packaging can make it easier for you to reach your financial goals.

Through salary packaging you can structure your salary to pocket income and allowable benefits. The goal is to legally minimise your overall tax paid and to raise what's called your disposable income. These 'savings' then can be ploughed back into productive, tax-effective investments to fast-track your wealth-building plan.

Included in a salary package are:

• superannuation
• motor vehicles
• income protection
• home loans
• investment loans
• employee share schemes
• equipment such as mobile phones, computers, etc.

Salary packaging can be lucrative but the law is complex and this is where our financial planning processes can create opportunities to reduce your tax bill, legally, and to divert your savings into your preferred investment and wealth-building vehicles. Done right, both employees and employers can benefit from salary packaging.