Salary packaging – worth the sacrifice
The principle of ‘salary sacrificing’ may not sound very appealing. After all, who in their right mind would voluntarily give up their hard-earned cash. But it can have real financial benefits for some in terms of reducing your taxable income, which could see you pay less at tax time. As we nudge ever closer to the end of financial year, it’s worth taking a look at salary sacrificing to see if it’s a worthwhile strategy to put into place for you. A salary sacrifice arrangement is also commonly referred to as salary packaging or total remuneration packaging. In essence, a...
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