Pay Package Question: Download Questions PDF
How does salary packaging work?
Answer:
The salary packaging process is simple:
☛ Each pay day, a portion of what you earn is deducted and sent to Salary Options before you pay any tax. This portion remains 100% tax free.
☛ Salary Options will then pay this amount directly to your nominated account completely tax free (conditions apply). It can even be the same account where your pay goes into.
☛ The remaining amount of what you earned is then taxed at a reduced amount and paid to you as normal salary.
☛ After you combine the salary packaged amount paid to you by Salary Options together with your remaining after-tax salary, the total amount will be significantly more than when you weren't salary packaging.
☛ Each pay day, a portion of what you earn is deducted and sent to Salary Options before you pay any tax. This portion remains 100% tax free.
☛ Salary Options will then pay this amount directly to your nominated account completely tax free (conditions apply). It can even be the same account where your pay goes into.
☛ The remaining amount of what you earned is then taxed at a reduced amount and paid to you as normal salary.
☛ After you combine the salary packaged amount paid to you by Salary Options together with your remaining after-tax salary, the total amount will be significantly more than when you weren't salary packaging.
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