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Relocation Expenses
Save on many types of expenses associated with your employer requesting you to relocate for work purposes.
Save When Moving For Your Employer
If your existing job demands that you move to a new location, the costs of relocation, travel, removals, reconnection of utilities and the services of a real estate agent, may all be salary packaged – but only if you pay the costs yourself.
Move and Save
Real estate agent fees and professional fees can all be salary packaged if you need to move to a new location for your existing employer. You need to make sure you follow the ATO rules though, and if your employer pays the costs, you won’t be able to salary package the amount. Here are some of the eligible items:
· Travel costs, including meals and accommodation during your journey
· Furniture removal, including insurance and storage
· Temporary accommodation for up to 21 days in your home town while preparing to move
· Temporary accommodation for up to 4 months in your new town while you’re making more permanent arrangements
· Utility connection costs, such as phone, electricity, and gas
· Sale of your existing home, such as real estate agent and legal fees and advertising
Admin costs for the purchase of your new home, including stamp duty, state taxes, legal fees and mortgage establishment costs.
What you need to do, and what you should know:
· Pay for the expenses and retain the tax invoices.
· Submit a claim form to us and attach your tax invoices.
· 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 amount.
· 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
Save On Your New Car
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.
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.
