Ok all you financial wizzgigs, what can you tell me about
Salary Packaging, what are the benefits of it and should
I be doing it? I have been encouraged to do it , but I
don't know enough about it.

What do you think?

Rubyleeangel.

The purpose of salary packaging is to reduce your tax liability. This only works if you are earning enough to make it worthwhile to incurr the expense of managing the package. I would highly recommend seeing your accountant before doing any salary packaging.

Hi i salary package and saved over 12000 in tax last yr i have money taken out of my gross wage for my bills and rent ..and am taxed on the balance left the following week that money is returned to me in my bank account and i pay what i have to etc i think its wonderful..

That's great!

Hey Rubyleeangel,
It is advisable to see an accountant before making salary packaging decisions, however the one area that it is really worthwhile is that of superannuation.
This is particularly true if you earn less than $28,000 as the government will match your super contributions up to $1,000 dollar for dollar. i.e. if you put $1,000 in they will put $1,000 in. This amount gradually decreases up to about $38,000.
Regardless, you don't pay tax on super contributions that you salary sacrifice and that's gotta be a good thing.

Thanks everyone for your advice, I will definitely take it up with my tax
consultant at H&R Block and I will get the information package that apparently
is available through the pay office at my work, read it really well before I
make any decisions. I will get back to you as to what I find out.

Thanks, Rubyleeangel