Salary packaging is a type of deal that allows employees to pay for fringe benefits from the pre-tax income which will provide them huge savings. Even their employers can save by adopting this method. In addition to tax benefits for their employer, the working force can also save on the purchase of their new vehicle through novated leasing. Why is salary packaging important?
Through salary packaging, working people can reduce their taxable income by paying for the novated lease out of their gross salary, which will then reduce their taxable income. While this benefits the employees, the employer saves on payroll tax as the taxable income of their employees also gets reduced. The more the number of employees going for novated lease deals, the higher the savings of the employer becomes. However, what is the benefit of getting help with a salary packaging company?
Generally, the salary packaging system is an alternative way of being paid annual remuneration with an aim to maximise the take-home benefits to the working force. They sacrifice part of the pre-tax salary in return for the benefits offered by the employer. In other words, workers are paid a gross pay with income tax dedicated via payroll and they are offered the option of spending or saving the rest as per their individual needs. Compulsory superannuation is a good example of packaging. When a professional salary packaging company is chosen, employers and the employees can get the guidance on how to do it effectively.
As seen above, there are many benefits of salary packaging for both the employees and employers. Therefore, it is high time you take advantage of this deal and lease your dream car. With novated leasing, you can decide to get a brand new car or a used car. It all depends on what you can afford and also your preference.
However, as you think of a novated deal, you need to consider your needs and know your savings, which is where a novated lease calculator comes in. With this online calculator, you can quickly do the calculations and know what deal best fits your needs and your salary. Also, the calculator is easy to use, and so you need not disclose your information to anyone. There are many such calculators online, and you online need to use one from a reputable company.
If you are considering salary packaging your dream car, then consider visiting VehicleSolutions.com.au – Novated Lease. They are experts when it comes to salary packing. They will offer you a competitive novated leasing deal and fast, efficient services. What’s more is that they have an online novated lease calculator where you can compute your savings and know what is beneficial for you even before contacting them. Also with them, you have the option of getting a new or used car. They are simply the best in the market. Contact them today and get your dream car.