What is salary packaging?
Salary Packaging is how you:
- maximise your tax benefits and essentially save money
- change your income structure by paying for approved benefits from your pre-tax pay
- receive your salary as a combination of cash and benefits which are either tax free or at concessional tax rates.
If you are already salary packaging click here to go to the Salary Packaging portal.
Established in 2001, our proven track record has earned our reputation as one of Australia's leading providers of salary packaging and vehicle leasing services. We pride ourselves on the longstanding relationships we develop with our clients and their employees.
Our salary packaging team supports a broad client base ranging from public hospitals, to aged care facilities, charities, religious organisations, government agencies (local and state), universities, private schools, listed corporations and private businesses.
In addition to our salary packaging and vehicle leasing services, we also help with:
- Business advisory
- Corporate assurance
- Wealth management.
Why do it?
Salary Packaging makes saving money easy.
|Reduce the amount of PAYG tax you pay||Have extra cash each pay|
|Make extra payments to your mortgage||Improve your lifestyle|
|Take advantage of investment opportunities|
What can be packaged?
The Australian Tax Office guidelines offer varying benefits depending on the type of organisation you work for. You can receive benefits from your employer up to 100% of your total base gross salary.
Benefits can include:
|Car leasing (novated lease)||Personal insurance|
|Laptop computer (business use)||Mobile phone (business use)|
|Briefcase||Membership fees or subscriptions|
|In-house benefits, depending on your employer|
If you are an employee of a Public Health Service or a NFP, you may package an additional and extended list of benefits each year. These may include:
- Mortgage/rent payments
- Personal living expenses
- Eating out
- School fees
- Personal loans
Prosperity Smart Drive
Prosperity provides a complete vehicle management service called Prosperity Smart Drive.
Our service includes:
- Sourcing best price for your new or used vehicle
- Sourcing competitive finance
- Fuel card program
- A full range of insurance products
- Ongoing monitoring and reporting of costs including payroll deductions.
Prosperity can manage all of your salary packaging and vehicle needs, under one roof! For more information, contact Prosperity Smart Drive on 1300 761 388 for a consultation or view our car packaging page.
Where do I begin?
It's easy - our friendly team will work closely with you to arrange everything, including:
- The nominated benefit(s) you are eligible to package
- The payroll deduction set up and paperwork
- Tracking and reporting your expenses via our web portal.
Call us to learn more about your individual salary packaging options.
- Alteration of Salary Packaging I want changes made to benefits packaged or other general changes
- Cessation of Salary Packaging I am retiring, leaving my employer or simply want to stop packaging
- Change of Details I have new bank account details, a new e-mail address/phone number/postal address
- Expense Reimbursement Claim I want to submit expenses for reimbursement
- Joint Authorisation I want my partner/accountant/other to have joint authorisation regarding my salary package
- Leave Form I am going on leave and want to advise Prosperity of this for my salary packaging
- NSW Health application form I want to apply for salary packaging.