Salary $85,000
Superannuation $10,000

 

Benefit Items
Not Packaged
Packaged
Gross Salary
$85,000
$85,000
Less
Superannuation
$10,000
Fringe Benefits Tax
Total Deductions Before Tax
$10,000
Input Tax Credit
Gross Salary after Packaging
$85,000
$75,000
Less
PAYG and Medicare Levy
$23,125
$18,975
Net Salary after PAYG and Medicare
$61,875
$56,025
Less After Tax Costs
Non-Packaged Superannuation Cost
$10,000
Disposable Income
$51,875
$56,025
Estimated Net Fortnightly Savings
$159
Estimated Net Annual Savings  
$4,150

Note: Standard Superannuation Contributions Tax applies.

Increase in Net Salary: 8%


Disclaimer: The calculations contained in the above example are estimates only and are based on packaging parameters and do not take into account your individual circumstances. The calculations assumes, that your employer is eligible to claim back the GST and returns it to your package and that you are claiming the tax-free threshold and that you have no other salary packaged components or additional income/deductions, such as an investment property and are based on Tax rates for 2006-2007. The estimated annual savings are based on the assumption that the financing of the motor vehicle outside of the salary packaging arrangement is on the same terms and conditions as the novated lease quotation. We recommend that you obtain independent financial advice prior to proceeding with a salary packaging arrangement.