FREQUENTLY ASKED QUESTIONS
Becoming a client is easy
If you would like to participate in the benefits of salary packaging, SPG Guardian is the simple solution. We’ll take care of every aspect of packaging for you.
You’re welcome to contact us to discuss your requirements. You might also be interested in some of these frequently asked questions.
How do I know if salary packaging would work for my business?
There are salary packaging opportunities for employees in most tax brackets. It is not the preserve of the highly paid. We administer salary packaging for employers who package 5 or more employees.
SPG Guardian can advise you in any circumstance.
What benefits can my employees package?
Some benefits yield more tax savings than others. The range includes:
Laptops, mobiles, tools of trade, car, superannuation, subscriptions, airline lounge membership, home office equipment, work related expenses, childcare, school fees, education and training, general insurance, household and living expenses, entertainment, work relocation expenses, living away from home expenses, remote area housing, travel, parking.
To reduce Fringe Benefits Tax, we recommend you offer to package benefits that are normally tax deductible for employees.
What happens when an employee leaves?
The salary package ceases when an employee leaves.
We return any employee funds in the SPG Guardian trust account to the employer. The employer includes these funds in the employee’s taxable payout or applies them to the employee's additional superannuation.
How much of my salary can I package?
It depends on your personal financial circumstances. We can help you design a package that works for you.
What information is required for SPG Guardian to design my package?
To achieve the best results, we’ll need to know:
• your salary and your spouse’s salary
• other income
• rental losses
• number of children and their ages
• maintenance payments or receipts
• government benefits
• HECS/HELP debts
• private health cover
• current salary sacrifice arrangements, including super
Can I change my package?
Yes. You may change it at any time.
Are there any disadvantages if I package my salary?
You need to be sure that your package is a good fit for your needs and provides you with sufficient cash.
There is a possibility that packaging your salary might affect a WorkCover or Workers Compensation claim if you are injured. The legal consequences are unclear. If you package 10% of your salary, it is possible that a payout might reduce by 10%. Alternatively, it may be unaffected.
More questions?
Please feel free to contact us to discuss your circumstances and clear up any queries you might have.