Could you pay off your mortgage earlier? Would you finally upgrade your car, or even your TV? Or could you just breathe easier knowing you have extra money for life’s emergencies?
If your employer offers salary packaging through CBB and you’re ready to get started, you can book a sign-up appointment with a member of our team. Otherwise, keep reading to find out more about the benefits of salary packaging with CBB.
Presented by CBB’s SA State Relationship Manager Mark Gauci, this video provides a short overview of salary packaging. Find out how it boosts your take-home pay, makes it easier to manage everyday expenses, and gives you access to some amazing benefits.
I have more money in my pocket which has taken the pressure off my family’s financial position.
My mortgage is paid and the food card (Meal Entertainment and Holiday Accommodation card) that I have is fantastic. Makes budgeting so much easier.
Working for a charity, it helps the finances and budget. It’s like getting a bonus for doing your job.
I am grateful for salary packaging as it enables me to stay within the industry I love.
Due to salary packaging, I was able to wipe out short term debt (from a period of unemployment) much quicker than would otherwise have been possible. Now, I am able to save for holidays and look forward to a much brighter future.
I like that I can pay my mortgage with it, it’s gone from my salary without me thinking/worrying about it. I also like the meal/holiday card especially when I have to go out on a special occasion. It has even been good going away when paying for accommodation. I’m putting money I put away without really thinking about it.
As a single mother salary packaging has been a life saver. When I would usually pay more than half my weekly salary to rent after tax, having salary packaging has definitely helped financially and taken a lot of stress off me.
Employees of eligible not for profits can salary package a maximum of $15,899 tax free each FBT year. Your exact additional take home pay will depend on your annual salary. This table shows the indicative financial benefits for different salaries; you can also use our salary packaging calculator.
Please note that we provide a tailored and highly detailed analysis of your benefit at your sign-up appointment.
Your salary packaged funds can be used to take care of regular payments such as: mortgage and rent payments, personal loan repayments, and even bills and utilities. Any routine payment that can be paid electronically (and you have acceptable proof of debt for) can usually be set up through CBB.
You can also choose to load your funds onto a CBB Salary Packaging Card, which can be used to pay for groceries, petrol, and other household goods with tax free dollars. Just imagine how much money you could save on everyday essentials.
Our friendly salary packaging team take care of the process for you, leaving you free to enjoy the benefits. Here’s how we make it happen:
The diagram below shows how it works – or you can watch this short video.
The ATO-approved CBB Meal Entertainment and Holiday Accommodation Card allows you to salary package meals, accommodation expenses and venue hire using tax-free dollars. This provides you with an additional $2,650 tax free per year, saving you even more on tax.
Use your CBB Meal Entertainment and Holiday Accommodation Card in Australia and overseas to pay for:
Download our Meal Entertainment and Holiday Accommodation brochure
Remote Area Benefit is a tax concession from the Australian Federal Government which allows eligible employees to claim up to 50% of certain expenses associated with living and working in a remote location, as well as some travel costs. This benefit is on top of the standard salary packaging benefit that employees of Public Benevolent Institutions (PBIs) receive.
To be eligible for Remote Area Benefit you must:
Want to pay for your new car with tax-free dollars?
If you are considering a new or late model car, a novated lease could save you thousands in acquisition and running costs. This benefit is in addition to your standard salary packaging amount, enabling you to save even more tax each year!
A novated lease is a three-way agreement between an employer, an employee and a vehicle leasing company whereby the employer deducts recurring payments from the employee’s gross salary. These payments are made with pre-tax dollars, helping you save a substantial amount on the vehicle costs. Better yet, you can package your total running costs to save even more.
Importantly, novated leasing allows you to salary package the car of your choice- you can select the make, model and colour that you want.
Download our Novated leasing brochure
