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Keep yourself in shape and save tax at the same time. Available where your employer provides the gym.
If your employer provides a gym on their business premises, you can salary package the membership fees and save on this portion of your income tax.
· Submit a claim form to us attaching your gym application form and evidence of payment.
· 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 savings.
· Depending on the amount, we may be able to spread the deductions over several pay periods to help you out.
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!
Salary packaging your next car is a good decision; see how it can work for you. Call 1300 303 357 and speak to one of our friendly specialists.
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.