Salary Packaging Myths and Misconceptions
Over the years, we have heard just about every excuse for a company not to offer salary packaging to their employees. Yet the real question is why wouldn’t you offer effective salary packaging to your employees?
The whole purpose of the Fringe Benefits Tax Legislation is to provide tax concessions to your employees whilst at the same time delivering significant on-going cost savings to the company.
It is truly a ‘win-win’ outcome for all concerned.
Read the 5 common salary packaging myths and misconceptions with our response below:
1. We don’t have the time or the resources to implement this program.
- We do! This is our business. We will implement and manage your employee benefits program for you.
2. There is no real benefit to the employee is there?
- Yes there is! Increase your employee’s net remuneration by a minimum of 3% per annum!
3. There is nothing in it for us (the employer)
- You can save 1% – 3% of your total payroll costs per annum. How does that sound?
4. Its just too hard
- Its not really, but then again, Reditus is doing it for you!
5. We can’t see a reason for it
- You should…there is so much to gain!
Reditus’ full service business model places us in a unique position in the salary packaging market. Our philosophy and process, is dedicated to providing exceptional outcomes for our clients: employers and employees alike.
Our competitive advantage lies in the four pillars of the business, which allow us to manage the entire FBT and Remuneration Benefits program:
- FBT Strategy
- Salary Packaging
- Fleet Services
- Financial Planning
Combined with our full advice – full service philosophy with our salary packaging means that your employees are getting the best possible, specialised advice in salary packaging, vehicle leasing and financial and investment services.
The result for your company is a partner in your business, who will work with your managers and employees in providing an employee benefits scheme that will entice new employees and maintain your current group of valued employees.
The Reditus value proposition not only provides your employees with tax savings, but takes full advantage of the Fringe Benefits Tax legislation in securing significant cost savings to you as a corporate entity. This will include but not be restricted to:
- Fringe Benefits Tax liability;
- State Based Payroll Tax;
- WorkCover Premiums;
- Employment Costs;
- Operating and Administrative Costs.
Interested? Please contact us by clicking here or calling (07) 3054 1000 for more information on how we can work together.