Salary Packaging Examples - Annual Gross salary of $35,000
These examples show how salary packaging arrangements can work. It is only intended to be a guide and you should not act solely on the basis of this information. Please contact Return Salary Packaging or your financial advisor for further advice.
Return is a CPA business
The following assumptions are made about the employee in these examples:
- the 2006/2007 tax rates have been used to calculate income tax
- the tax free threshold has been claimed from the employer
- they are an Australian resident
- no tax offsets or special rebates have been claimed
- full medicare levy is payable
- there is no entitlement to leave loading
- there is no HECS debt or Accumulated financial Supplement debt
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Gross Annual Salary |
$35,000 |
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Superannuation |
$3,150 |
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Total Renumeration Package |
$38,150 |
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Laptop Purchase Comparison |
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$2,000 (incl GST) |
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No Salary Sacrifice |
Salary Sacrifice |
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Salary |
35,000 |
35,000 |
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less laptop (GST exclusive) |
- |
1,818 |
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less admin fee (GST exclusive) |
- |
100 |
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less FBT |
- |
- |
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New Salary |
35,000 |
33,082 |
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less income tax |
6,396 |
5,820 |
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Net Salary |
28,604 |
27,262 |
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less after tax cost of laptop |
2,000 |
- |
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Net Position |
26,604 |
27,262 |
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Gain from Packaging |
658 |
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Additional Superannuation Comparison |
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$200 additional super per month |
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No Salary Sacrifice |
Salary Sacrifice |
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Salary |
35,000 |
35,000 |
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less additional super |
- |
2,400 |
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less admin fee |
- |
100 |
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less FBT |
- |
- |
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New Salary |
35,000 |
32,500 |
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less income tax |
6,396 |
5,616 |
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Net Salary |
28,604 |
26,884 |
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less after tax additional super |
2,400 |
- |
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Net Position |
26,204 |
26,884 |
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Gain from Packaging |
680 |
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Novated Motor Vehicle Comparison |
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MV value $30,000, km's per yr 18,000 |
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Includes Employee Contributions |
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No Salary Sacrifice |
Salary Sacrifice |
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Salary |
35,000 |
35,000 |
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less motor vehicle costs (excl GST) |
- |
4,361 |
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less admin fee (excl GST) |
- |
318 |
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less FBT |
- |
- |
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New Salary |
35,000 |
30,321 |
|
less income tax |
6,396 |
4,944 |
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Net Salary |
28,604 |
25,377 |
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less after tax motor vehicle costs (incl GST) |
10,774 |
6,000 |
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Net Position |
17,830 |
19,377 |
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Gain from Packaging |
1,547 |
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Novated Motor Vehicle Comparison |
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MV value $30,000, km's per yr 25,000 |
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Includes Employee Contributions |
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No Salary Sacrifice |
Salary Sacrifice |
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Salary |
35,000 |
35,000 |
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less motor vehicle costs (excl GST) |
- |
7,560 |
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less admin fee (excl GST) |
- |
318 |
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less FBT |
- |
- |
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New Salary |
35,000 |
27,122 |
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less income tax |
6,396 |
3,948 |
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Net Salary |
28,604 |
23,174 |
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less after tax motor vehicle costs (incl GST) |
11,593 |
3,300 |
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Net Position |
17,011 |
19,874 |
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Gain from Packaging |
2,863 |
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Liability limited by a scheme approved under Professional Standards Legislation
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