Helping ease the costs of living by salary packaging? That’s RemServ Relief.
What’s RemServ Relief? It’s the feeling you could get when you fight back against rising living costs and start enjoying the potential tax savings of salary packaging.
With a RemServ salary packaging account, your employer still pays you the same wage, but we help you pay for some bills and expenses before income tax is paid to the ATO. The potential tax savings of salary packaging could help ease the costs of living, decrease your taxable income, and increase your take-home pay!
How salary packaging works
So, normally tax is taken out of your pay before you spend it, you then pay all your cost-of-living expenses and have a bit left over.
But if you had a RemServ salary packaging account…
Your employer still pays you the same salary, but now we help you pay those same cost-of-living expenses before tax. Which means your taxable income could go down, your disposable income could go up, and with some of these expenses already taken care of you could have more money for other essentials and surprises.
So, what can you package?
As a health worker you could be eligible to package up to $9,010 in living expenses each Fringe Benefits Tax (FBT) year.
There’s a great range of salary packaging benefits available to eligible employees, including:
- Living expenses such as rent or mortgages
- Cars, fuel, registration
- Some personal electronic devices
For more information on your available benefits visit remservsalarypackage.com.au/benefits.
It’s important to know that you could still potentially benefit from salary packaging even if you have a HELP (Higher Education Loan Program) or HECS (Higher Education Contribution Scheme) debt.
There are some important points to be aware of:
- It’s important to remember that salary packaging may affect your current taxable threshold, which could change the way the ATO calculates your repayments.
- The Australian Taxation Office (ATO) assesses you on your 'adjusted taxable income' when working out how much you should pay in HELP or HECS repayments. So with an increased gross salary, you may need to increase your regular HELP or HECS repayments, otherwise you may end up with a bill at tax time.
- If you choose to go ahead and salary package, you’ll need to ask your payroll department to deduct additional HECS-HELP repayments.
How much? Well, RemServ has an online HECS-HELP calculator which will estimate the additional amounts to request through your payroll, as well as your potential tax savings as a result of salary packaging.
- You can crunch the numbers for yourself or request a call back to have one of our consultants walk you through it.
Sign up to salary packaging, your way.
RemServ’s Online Signup is the easiest and quickest way to start salary packaging.