I recently started working with a non-profit and would like to take up salary packaging with a portion of my pre-tax salary as Reportable Fringe Benefit, and I would also like to make voluntary pre-tax contributions to my superannuation . Both seem to be labelled as salary packaging, so can I do both? Does the salary packaging limit have an affect on the amount of pre-tax voluntary supper contributions I can make?
You can do both as salary sacrificed super amounts do not count to the NFP employer exempt benefit limit.
The super amount will be reported on your tax return for inclusion in income tests relating to various benefits and obligations.
You can do both as salary sacrificed super amounts do not count to the NFP employer exempt benefit limit.
The super amount will be reported on your tax return for inclusion in income tests relating to various benefits and obligations.
Hi @beswickandrewj,
You can check out our webpage under salary sacrificing information for NFP organisations. As @Glenn4802 also provided some good advice. Bear in mind your super salary sacrifice amounts go towards the concessional cap, together with your employer's super guarantee (SG) amounts for you. The concessional cap amount is currently $27500, if you exceed this amount you may be looked at for excess concessional contributions tax.
The salary sacrifice arrangement needs to be agreed upon by both the employer and the employee. You may like to discuss this with your employer before entering into an agreement. You can also seek financial advice if you prefer.
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