Living Expenses
Available to employees of FBT exempt and rebatable employers – talk to us today to confirm your eligibility.
Save on everyday expenses and loan repayments
Only available to employees in certain sectors, this is a special benefit that could save you thousands per year depending on your circumstances.
Save on everyday expenses and loan repayments
The Living Expenses Benefit is a great way to save on everyday expenses. The amount you are entitled to depends on your employer’s FBT registration status and is determined by the ATO.
Employees of full FBT exempt employers such as charities and PBIs receive an effective value of $15,900 and no FBT is payable.
Employees of FBT exempt employers such as hospitals receive an effective value of $9,009 and no FBT is payable.
Employees of FBT rebateable employers such as research institutions not only receive an effective value of $15,900 for expenses but also receive a rebate on the FBT payable saving you further income tax.
Many employees put this benefit towards living expenses such as:
· Mortgage repayments.
· Rental payments.
· Personal loan repayments.
· Car loan repayments.
· Childcare fees.
· Credit card repayments.
Another option to utilise this benefit is the Everyday Purchase Card.
There are really no limitations, as long as you can substantiate the amounts with approved documentation.
You may also split your benefit amount, e.g. some funds towards your rent, and the remainder to your car loan repayments or Everyday Purchases Card. Or any similar combination of the above items. Also, if you are commencing part-way through the year you may be able to accelerate (increase) your payroll deduction amounts to ensure you still reach your maximum benefit for the first year. Talk to us to understand this in more detail.
How Much Could I Save With Salary Packaging?
Using your pre-tax salary to pay for things allows you to increase your disposable income and pay less tax – often thousands of dollars less each year. There are dozens of items you can potentially salary package, but some depend on your employer and the industry they work in.
It’s all fully approved by the Australian Taxation Office, however it pays to seek specialist clarification from us to ensure you gain everything you’re entitled to, and make the process of setting up your package easy. You can use our calculators for indicative savings, or talk to us today to find out more and the next steps to take towards saving!
Calculate Your Savings
Check Your Eligibility
Find out instantly how you could save thousands on a new car and other major expenses. Call 1300 303 357 and speak to one of our friendly specialists.
Get In Touch!
Find out how much you can save on a new or used vehicle with a novated lease through SalaryMasters. Enter your details and we will get in touch with you shortly.
We’ve developed a unique system which can more accurately calculate your true expenses, giving you significantly greater savings over time which you can use to obtain the vehicle you’ve set your heart on. Estimate what you could save with our
SMART CALCULATOR.
You are spending below the amount your Employer has provided for your Vehicle Allowance. In most cases, you will pocket the difference each pay period.
The vehicle / amount you have chosen is in excess of your Vehicle Allowance. This means that you will need to contribute more from your Gross Annual Salary.
Not sure what type of vehicle you are looking for?
Not sure what you can afford?
Enter an amount here and the Calculator will provide you with an estimated cost per pay cycle you have specified.
(Amount shown includes GST and excludes dealer delivery and on-road costs).
If your Employer provides you with a Vehicle Allowance, enter the amount here and the Calculator will tell you if you are above or below the Vehicle Allowance.
Enter your Gross Annual Salary, excluding superannuation.
A novated car lease is a great alternative to buying a car outright. You need no cash up front, and there are major tax benefits. And because it works by setting up regular deductions from your pay, registration, insurance, roadside assistance, maintenance, tyres and even fuel can all be included. Never worry about these pesty bills again.
You can choose to salary package almost any new car available in Australia. We can offer you outstanding deals on hundreds of sports, family and prestige vehicles – cars, wagons, 4WDs and SUVs – from dealers Australia-wide. We have long-established relationships with premium dealers who stock all the top brands, so our buying power is second to none.
With our specialist guidance, you can learn the secrets of using your pre-tax salary to save thousands on a new vehicle, your mortgage and much more. Secure every dollar you’re entitled to.
We only employ experienced specialists in salary packaging and fringe benefits tax, who stay totally up to date with Australia’s ever-changing taxation landscape with ongoing training. The benefits are all yours.
Instead of speaking with a different person each time, you’ll be assigned a personal client manager, who’ll look after every aspect of your contract.
You’ll obtain high quality service every time, from a specialist who’s committed to your satisfaction, and who’s completely familiar with your needs.
All our staff are located in Australia, and your personal information is kept secure right here – never offshore – so your privacy is assured.
We’ve developed a unique system which can more accurately calculate your true expenses, giving you significantly greater savings over time which you can use to obtain the vehicle you’ve set your heart on. Estimate what you could save with our
SMART CALCULATOR.