If you live and work in a remote area, you may be able to save tax on a number of personal expenses. These include:
1. Remote Area Rent
-
If you rent a property from your employer, you can salary package 100% of your rental costs tax free from your pre tax salary
-
If you lease a property in your name, you are able to pay for 50% of the rental cost tax free from your pre tax salary and the remaining 50% from your after tax salary
-
Both options allow you to save thousands of dollars a year on your rental costs!
2. Other Remote Area Benefits
If you earn in excess of $80,000 per annum (higher marginal tax rate of either 38.5% or 46.5%) you can benefit from salary packaging the following items:
-
Remote Area Mortgage Interest
-
Remote Area Fuel
-
Remote Area Holiday Travel
Please read the Selectus Remote Area Fact Sheet found here for more detailed information.