Public Benevolent Institution
As an employee in the Public Health Sector, you can salary package living expenses, etc. to a value of $15,900.00. As a result, your Reportable Fringe Benefit amount would be $30,000.00.
For the sake of the following example, we have assumed that your income is $55,000 as per the Repayment Income example in the previous screen.
No Salary Packaging
With Salary Packaging
Less pre tax deductions
Less Income Tax + Medicare
Less post tax payments
Less post tax HELP debt
Total Disposable Income
Based on the above, you have an extra $3,888.49 in disposable income every year, which translates to an extra $149.56 every fortnight.
In addition, you pay an extra $1,597.01 each year off your HELP debt, so if your HELP debt was $20,000, you would pay this off 4 years sooner.
How do I take advantage of this?
Just contact us on 03 5229 4200 and we’ll set up your Salary Package. We’ll also tell you about any other things that you need to do to ensure this runs smoothly.