There are two ways you can currently pay your income tax. You can take
all your remuneration as salary, pay your income tax on the whole amount,
then pay for your expenses. Or, you can package part of your remuneration
by paying some of your expenses before you pay income tax, reducing the
amount on which you are taxed.
That's right, you can increase your take home pay through flexible
remuneration packaging (FRP).
What can you package?
How does it work?
We remove the amount of the item from your net salary to calculate your
income tax on the lower amount. The amount that you paid for the item is
now tax free!
If GST if it was applied on the item we refund this directly to
you!
HR Services must receive all salary packaging requests no
later than the 7th of the month to be included in the 16th of the month
pay run.
Keep reading to find out all of the items that you can salary
package...
WHAT – You can salary sacrifice you monthly car
parking costs if you elect for Deloitte to reserve and pay on your behalf
a car parking space in one of the firm negotiated car parking places.
HOW - For on site parking arrangements Australia wide,
please contact Helen Bourke on (insert phone number) or email Helen on hbourke@propertygroup.com.au.
Step 1 - Contact Helen who will provide you with
information on the costs associated with salary sacrificing car parking
(including estimated FBT costs) and advise you of the process.
Step 2 - Once you decide you want to proceed Helen
will send you the paperwork to set up the car parking arrangement.
Step 3 - Once the documents are finalised and signed,
Helen will advise HR Services to begin the package by reflecting your
salary sacrificed arrangements in the firm’s payroll system -
Peoplesoft.
Step 4 – Day to day queries in relation to car parking
should be directed to Helen Bourke.
Step 5 – At the end of each FBT year, 31 March, HR
Services will provide you with a reconciliation of your car parking
package, including all deductions made on your behalf and the actual FBT
cost following FBT year end. You will be contacted by HR Services in
relation to the reconciliation that is provided, and whether you are owed
or owe Deloitte money.
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WHAT – The following costs associated with your
employment can be packaged:
• Laptop computer
Laptops can be packaged when purchased for work purposes (regardless of
whether partially or solely for work purposes). Software can only be
packaged if purchased at the same time as the laptop. Printers are
subject to FBT therefore can only be packaged if purchased at the
same time as the laptop, and if the item forms part of the
total laptop package i.e. where the cost of the printer is not
itemised separately.
• Palm Pilot / electronic diary
Where purchased for work purposes (regardless of whether partially or
solely for work purposes) palm pilot / electronic diaries can be packaged.
The PDA must be designed for use as a PDA (eg, word, excel etc) but may
have an additional phone capability. Typical brands include: O2, Hewlett
Packard, Blackberries. This does not include mobile phones with organiser
functions which can normally be distinguished as they are produced by
mobile phone companies. eg, Nokia's, Samsung's.
• Briefcase
Briefcases used for work purposes can be salary sacrificed.
• Airport lounge
Qantas Frequent Flyer Club can be salary sacrificed. The number of
memberships that can be sacrificed in any one year is limited to one.
HOW - Send HR Services a paid tax invoice
(or receipt) of the costs incurred. HR Services will refund the GST in
full, and the remaining cost of the item will be a tax-free portion of
your salary. HR Services must receive all reciepts no later than the 7th
of the month for the salary sacrifice to be included in the 16th of the
month pay run. If you have any queries, please contact HR Services on
7007.
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WHAT - Costs associated with your professional
development, where the professional development is related to your
industry and role within Deloitte may be salary sacrificed over one, two
or three months.
Examples of the type of professional development costs which can be
packaged includes:
• Self education – Fees for TAFE, fees for university studies,
books, etc (HECS cannot be salary sacrificed)
• Conference travel
and accommodation (where related to the industry and role of the person
concerned)
• Professional and membership subscriptions (1 per
year).
HOW - Send HR Services a paid tax invoice
(or receipt) of the costs incurred. HR Services will refund the GST in
full, and the remaining cost of the item will be a tax-free portion of
your salary. HR Services must receive all reciepts no later than the 7th
of the month for the salary sacrifice to be included in the 16th of the
month pay run. If you have any queries, please contact HR Services on
7007.
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WHAT - Over and above the 9% Superannuation Guarantee
Charge contribution made by Deloitte on your behalf, employees can elect
to salary sacrifice additional superannuation (subject to legislation on
contributions limits based on age and maximum superannuation contribution
limits – contact HR Services for more details on these areas).
HOW - Send HR Services an email to confirm in writing
how much and when you would like to start salary sacrificing for
superannuation. Please note that Deloitte policy is that we will only
allow you to salary sacrifice to the same super account that you have
opted to have you 9% employer SGC amount remitted to. If you have any
queries, please contact HR Services on 7007.
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WHAT - With partner approval, you may be able to
salary sacrifice 10 additional days of annual leave each year.
HOW - Request written (email) approval from
your partner and forward this to HR Services. We will then sacrifice
75 hours of additional annual leave over 12 months.
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Need Help?
Contact the HR Services Team by logging a call with 7007.
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