Salary Packaging (Motor Vehicle Leases, Public Benevolent Institution, etc)
Once you have entered your income, you will be able to scroll down to see some further entry fields in relation to concessional (pre-tax) super contributions, and Salary packaging details (as shown in the below screenshot)
Salary Sacrifice - Motor Vehicle
Under this heading is where you can include details of motor vehicles leases, or any other salary packaging that you wish to include.
With a motor vehicle lease, you need to include the pre-tax Annual Amount, and, if there is a portion which would attract FBT (a post-tax amount), that amount should be included in the ECM Amount (employee contribution method) section, which is usually an after-tax amount that is paid towards the lease.
* Enter an appropriate name for the salary sacrifice
* Enter the Annual Amount OR Annual Rate (percentage of salary) that is being sacrificed (i.e. pre-tax amount)
* Enter the ECM Annual Amount (the post-tax annual amount) if applicable
* Select "Yes" under the heading "Keep?" (see note ** below)
* Click "UPDATE" to save the data entry
** "Keep" simply means do you want to keep the data entry. If you have entered a Lease, but it is not longer applicable, select "No", and click "Update" and the entry will be removed.
These figures will be shown on the client's payslip.
If a Motor Vehicle Salary Sacrifice is not to remain applicable to the salary end date, you will need to enter a second "salary" income without the motor vehicle salary sacrifice.
Salary Sacrifice - Public Benevolent Institution
Public Benevolent Institution is where you would include salary sacrifice contributions which require the return of the cash flow, for modelling purposes. An example of this would be salary sacrifice into a home mortgage, or electricity, which we see fairly regularly with Health Department / Hospital employees.
* Enter an appropriate name for the salary sacrifice
* Enter the Annual Amount that is being sacrificed
* Enter the Benefit Annual Amount (the amount that is being paid into the relevant item - in this case, the home mortgage)
* Select "Yes" under the heading "Keep?" (see note ** below)
* Click "UPDATE" to save the data entry
** "Keep" simply means do you want to keep the data entry. If you have entered a Lease, but it is no longer applicable, select "No", and click "Update" and the entry will be removed.
These figures will be shown on the client's payslip.
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