As competition for talent continues, salary packaging can be the difference in attracting and retaining employees. In today's world it's not enough to stop at good working conditions and competitive salaries to keep employees engaged.
Employees can structure their salary as a combination of cash and benefits which have either tax free or concessional tax rates. By reducing their taxable income, they can maximise tax benefits and essentially save money.
We partner with our our clients to develop strategic and individually tailored programs covering:
- Efficient administration
- Education workshops
- Employee communication programs
- Employee helpdesk
- Marketing and promotion
- Payroll functions, including payments and reconciliations
- Policy development
- Program structuring
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.
How we work
Working closely with our clients to introduce a suite of benefits, we reduce organisational costs and provide genuine after-tax advantages to employees.
Our firm's size and culture and our extensive change management experience, allows us to adapt quickly to client environments which means minimal disruption in transitioning to a new service provider.
We remove the administrative burden by assessing each employee's financial situation, in relation to salary packaging, including explanations and calculations of the various components of their personalised package. We develop and deliver an effective communications strategy for ongoing awareness and understanding of packaging for all parties involved.
- Treat each individual as having individual needs
- Recognise that needs change from year to year
- Use leading edge technology for prompt and timely payment of benefits
- Assist in communicating the benefits to employees
- Provide ongoing and timely communication and reporting
- Provide employees with advice and assistance.
Our employer benefits
Attract and retain without increasing costs or administration.
Reduces the time pressures on company resources (HR, finance and payroll).
Outsourcing removes in-house costs covering time, labour intensive, compliance cost, specialised technology, and costs to employee tax specialists.
Increase number of benefits
Switch from in-house to outsourced usually increases benefits available to employees, improving the overall value of the program.
Your employee benefits
Depending on organisation type, employees can receive benefits up to 100% of their total base 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|
Depending on your employer type and tax status, employees may package an additional and extended list of benefits, up to the value of $15,899.
These may include:
- Mortgage/rent payments
- Personal living expenses
- Eating out
- School fees
- Personal loans
Prosperity Smart Drive
Prosperity provides a comprehensive vehicle procurement leasing and management service called Prosperity Smart Drive.
Our service includes:
|Best price procurement of your new or used car||Sourcing competitive finance|
|Fuel card programs||A full range of insurance products|
|Ongoing monitoring and reporting of costs including payroll deductions|