Salary Packaging
Salary Packaging Changes from 01 November 2023 As part of the 2023/24 Salary and wages negotiations, it was agreed that HSU award staff would receive a larger share of the tax savings benefit for staff electing to take up salary packaging. Previously the benefit was split 50% to the employee, 50% to the hospital. The changes effective from 1 November will increase the benefit to employees to 70% and reducing the hospital ’ s share to 30% from your next pay post 1 November. For those who have taken up salary pack- aging, please see the table below of the increase to your take home pay as a result of these changes. Both staff and the hospital benefit from salary packaging, so we really encourage taking up salary pack- aging. For staff it increases your net take home pay because you are paying less income tax by the amount you salary sacrifice at your marginal tax rate. Full time staff can claim up to $9,009 per annum for non GST expenses e.g. mortgage payments, rent, school fees or $8,172 for GST able expenses e.g. credit card bills, child care fees. Further savings can be achieved by taking up the $2,650 meal and entertainment package.
Frequently asked Questions Can be found here: Salary packaging FAQ - HealthShare NSW
Can I salary package if I work part - time? Answer: Yes
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• Can I still benefit from salary packaging if I have HELP/HECS Debt? • Yes there are still benefits
• • Can I salary package if I am on a temporary contract? Yes if the contract is longer than 3 months
Visit the SalaryPackagingPlus website to work out your benefit from Salary Packaging and seek inde- pendent financial advice if you require (note the site calculator is still using the old 50:50 split of the ben- efit) www.salarypackagingplus.com.au/nswhealth/taxsavingchanges
For more information and to discuss your options The Salary Packaging Plus representative is available at the Salary Packing Stand in the main foyer of Ryde Hospital every Monday and Friday.
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