Overview

freespirit offer salary packaging including novated car leasing to Australian Professionals relocating interstate, New Zealanders when they first arrive in Australia and Overseas professionals on a 457 visa sponsored and employed directly. The tax effective salary packaging ensures the individuals take home more money. This arrangement suits individuals who are employed directly by their client.

How it works

• freespirit provide an estimate to the individual based on their salary package
• Once accepted freespirit set up the salary packaging and payroll with the individuals employer
• Each pay cycle the employer pays freespirit the individuals salary
• freespirit apply the salary packaging and pay the individual directly into their bank account

Advantages

The individual takes home more money and receives tax effective salary packaging. The employer can offer this packaging to the individual without the hassle of administration, calculations whilst reducing internal costs. This also offers a fantastic attraction and retention strategy for employers.

For more information or to organise a presentation e-mail osp@freespirit.com.au

Benefits

1. good staff retention
2. improved cash flow as less pressure on bonuses or wage increases
3. helps attract staff
4. able to be outsourced with costs met by the employee
5. potential reduction in workers compensation, public liability and payroll tax

1. increased disposable income
2. pay less income tax
3. reduced administrative burden
4. administrative costs tax deductible off your package

frequently asked questions

Can I enter into a salary packaging agreement at any time?
Yes, however, you can only salary package future entitlements to salary or wages, before you become entitled to them.

Can I benefit at all salary levels?
Yes, many items are exempt from Fringe Benefit Tax (FBT) and can be paid for entirely with pre-tax dollars.

Is there any limit on the amount I can salary package?
No, there is no limit to the amount you can salary package. However, you will need to keep enough cash to meet your living requirements.

How do I treat salary packaging in the account?
A paper on the accounting entries is available on your freespirit infonet via the link at the bottom of our website.

How do we know how much and what to pay each pay period?
We send you a disbursement advice together with a Payroll Report and invoice that sets out for each employee their net pay, PAYG withholding, superannuation and the benefits to be forwarded for distribution on the employee’s behalf. This occurs the business day before the payment is due.

What documentation should we have with our employee?
You should have a salary package election signed by the employee where they request that you salary sacrifice a portion of their salary (it may be 100%) into benefits together with the remuneration packaging terms and conditions under which they do so. Additionally you should have various statutory declarations in place depending on the benefits. These documents are available on your freespirit infonet.