How much might I save by salary packaging?
The following table outlines the potential tax savings* you can achieve assuming you salary package $16,050 at a range of different income levels.
The calculation uses the 2009 / 2010 Personal Income Tax and Medicare Levy Thresholds and assumes you work for a Public Benevolent Institution or Health Promotion Charity.
|
Salary
|
Potential Tax Savings*
|
|
$20,000
|
$2,320
|
|
$25,000
|
$2,782
|
|
$30,000
|
$2,857
|
|
$35,000
|
$2,817
|
|
$40,000
|
$3,398
|
|
$45,000
|
$4,148
|
|
$50,000
|
$4,898
|
|
$60,000
|
$5,055
|
|
$70,000
|
$5,055
|
|
$80,000
|
$5,055
|
|
$85,000
|
$5,455
|
|
$90,000
|
$5,855
|
|
$100,000
|
$6,340
|
* These calculations do not consider the effect of Salary Packaging on Medicare Levy Surcharge, HECS / HELP Payments, Centrelink Benefits, Family Tax Benefits etc. It is recommended you receive appropriate and independent financial and taxation advice before deciding to commence salary packaging.