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Work Development Travel
Travelling for work or conferences? Save tax by salary packaging the costs.
Work it to your advantage
You can save on the cost of any employer-approved travel related to the advancement of your work – such as courses and conferences – if you salary package.
Work it to your advantage
You could save tax on the cost of travel to work-related courses and conferences if you salary package. The GST will also be refunded, which means you’ll save an extra 10% of the cost.
However, your employer needs to approve your itinerary before you depart, and you’ll need to keep a travel diary of dates, times, and activities. You can even take time out from a personal holiday to attend the course and still claim that portion of your total expenses. It’s important to note that if you salary package your travel expenses, you won’t be able to claim it as a tax deduction.
What you need to do, and what you should know:
· Pay for the expenses and obtain a tax invoice/receipt as a record of what you’ve paid.
· Submit a claim form to us and attach your tax invoice/receipt.
· We will arrange for your employer to deduct the amount, less GST if applicable, from your pre-tax salary.
· We will arrange for the full amount, including GST if applicable, to be transferred back to you.
· You thus save on income tax, and potentially a further 10% GST.
· Depending on the amount, we may be able to spread the deductions over several pay periods to help you out.
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
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