Private Education Living Expenses
You could save on your home loan, rent, groceries and just about anything else.
You could save on your home loan, rent, groceries and just about anything else.
Want to enjoy tax savings on everyday living expenses such as mortgage, rent, bills or other everyday items? As an employee of a rebatable employer, you can! You can salary package up to $15,900 every Fringe Benefits Tax (FBT) year (1 April - 31 March) for expenses like these.
Generally, your tax savings expenses will vary depending on your level of income and may not be beneficial for employees earning less than $120,000.
You need to pay FBT when you salary package living expenses benefits. However, the good news is, that you will be eligible for a 47% rebate.1
The maximum you can salary package for living expenses each FBT year is $15,900 and you can include one or more of the following expense types.
You can salary package regular expenses such as your mortgage, rent, or personal loan repayments completely tax-free.
For these expenses all you need to do is send us your supporting documents once and we'll set up ongoing packaging - it's as easy as set and forget.
You can choose salary package variable expenses such as your everyday living expenses and credit card repayments by submitting regular claims with proof of payment for these expenses every FBT year.
If you want to keep your salary packaging flexible, the easiest way to do this is to choose a salary packaging card. It's a Mastercard™ loaded with your pre-tax dollars that you can use every time you make a purchase.
Your eligibility is dependent on your employer's salary packaging policy and your employment status. Use our salary packaging calculator to see which benefits you can package and how much you can save.
Disclaimers:
Important: This is general information only. Before entering into any salary packaging or novated leasing arrangement, employees should consider their objectives, financial situation and needs, and seek appropriate legal, financial or other professional advice based upon their own particular circumstances. The availability of benefits is determined by the employer. Conditions and fees apply.
Important information:
This is general information only. Before entering into any salary packaging or novated leasing arrangement, you should consider your objectives, financial situation and needs, and, seek appropriate legal, financial or other professional advice based upon your own particular circumstances. The availability of benefits is determined by your employer. Conditions and fees apply.
1. The rebate for the 2018 FBT year onwards is 47% of the gross FBT payable, (subject to a cap of $30,000).