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Why Salary Packaging Can Help You Today

By Bobby Karanfilov Subscribe to RSS | December 6th 2011 | Views:
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Sometimes acknowledged as a salary sacrifice, salary packaging is a deal between the company and the employee where a part of their every month salary is replaced by reimbursement like a laptop, a mobile phone, or a company vehicle. Vehicles can be also purchased through a novated lease, where the company will rent the car on the employee's behalf. In few cases, the worker could also choose to have their salary deducted during using 'green' methods of getting benefits. The last way of salary packaging is becoming particularly popular with younger employees, who are concerned about the effects of global warming and are keen to have a package which consists of a focus on climate change.

There are so many things which could be obtained through the salary packaging system that it seems almost too good to be true. It is a particularly valuable way for youthful people who do not possess large expenses to meet swift purchases without risking a damaging effect on their credit scores. Employees may choose to purchase cars with or without a novated lease, obtain a tabled computer including an iPad, buy benefits from the company they work for, get insurance, professional subscriptions to a society, choose education associated to their employment, or get new digital equipment, choose investment loans, or pay financial guidance charges.

In fact, in some conditions, there are even a lot of potentialities for the worker to get benefits through the use of salary packaging. If the corporate is eligible for a rebate or an exemption, then the employer might also offer personal health insurance, mortgage payments or rent, loan payments, non-public faculty fees, or even the final costs of living. All of these will be taken out of the salary.

The novated lease system is maybe the most difficult, with the car being rented by the employer in their workers name, and all of the responsibility for the car and therefore the lease being the employer's responsibility for as long as the Novation lasts. The employee can even have all of the running costs paid through the packaging deal. If the employer opts for the green deal, they'll get savings on the car, whether new or second-hand, and they will also get savings on the rent. The green business can even help both parties to work out precisely what can be owed, for instance by calculating the quantity of fuel required, or the distance to be travelled. There are many other benefits to purchasing the automobile through the Novated system.

Bobby Karanfilov - About Author:
They can help employees structure their salary
packaging
effectively - resulting in a pay rise for employees at no extra cost to employers PLUS a reduction in their ecological footprint. For more info please visit http://www.simplygreen.com.au

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