Browse Forums Home Finance Re: salary sacrifice 2Apr 12, 2011 10:38 pm my new build thread- Ben Trager https://forum.homeone.com.au/viewtopic.php?f=31&t=89826 my switch build thread (2011) https://forum.homeone.com.au/viewtopic.php?f=31&t=36569 Re: salary sacrifice 4Apr 13, 2011 12:14 am my new build thread- Ben Trager https://forum.homeone.com.au/viewtopic.php?f=31&t=89826 my switch build thread (2011) https://forum.homeone.com.au/viewtopic.php?f=31&t=36569 Re: salary sacrifice 8Apr 13, 2011 6:09 pm Tis ok eager, I knew what you meant my new build thread- Ben Trager https://forum.homeone.com.au/viewtopic.php?f=31&t=89826 my switch build thread (2011) https://forum.homeone.com.au/viewtopic.php?f=31&t=36569 Re: salary sacrifice 9Apr 13, 2011 9:23 pm If you work for a non profit organization you are able to salary sacrifice a lot more than other people generally everything other than super will inure an FBT tax this in most cases will outweigh almost any advantage .This was introduced to stop high income business's and business persons from paying all there bills ie house ,car ,school fees and then claiming a low income. Companies that allow sal sacrifice into other things generally will pick-up the FBT for the employer but i dont think it happens much these days. Re: salary sacrifice 10Apr 13, 2011 9:30 pm thanks for all of your replies..... I will speak to my boss. He is a one man band - a specialist... so not sure how salary sacrifice works in that regard. Will keep it in mind once we get a mortgage! Re: salary sacrifice 11Apr 19, 2011 2:15 am salary sacrifice = A portion of your pays goes straight into your mortgage repayment before it get's taxed. Hence reducing your taxable income and sacrificing that "amount out" Not all company allows for salary sacrifice- its only available for certain- company, industry and sector.- speak to HR. Note- salary sacrifice can work for ANYTHING not just a mortgage... it's very common for company cars and kids school fees Regards Michael Michael Chan | Australia wide Mortgage Broker Michael@ShapeHomeLoans.com.au | 1300 74 5626 | Fax: 02 8212 8909 http://www.ShapeHomeLoans.com.au Re: salary sacrifice 12Apr 19, 2011 9:42 pm shape salary sacrifice = A portion of your pays goes straight into your mortgage repayment before it get's taxed. Hence reducing your taxable income and sacrificing that "amount out" Not all company allows for salary sacrifice- its only available for certain- company, industry and sector.- speak to HR. Note- salary sacrifice can work for ANYTHING not just a mortgage... it's very common for company cars and kids school fees Regards Michael It is only tax effective if you work for a public benevolent institution. It does not work for every employer as the FBT you pay exceeds the tax benefit you obtain (unless you are already on the top tax rate) for a normal employer. It is available to nurses etc at public hospitals and people working for charities and some church related entities. Different sectors have different caps on the maximum you can sacrifice FBT free. Slab Down: 2/6/11 Moved in 13/3/2012 Current Status : Waiting for the garden to grow. My build thread : viewtopic.php?f=31&t=47031 |