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Salary Packaging & Remuneration Management
As well as maximising the value of remuneration to an employee and minimising the costs to the employer, creative salary packaging is an important differentiator for attracting and retaining the best staff, motivating employees to attain the benefits they desire and increases staff retention. Although the benefits are greatest for wage earners in the top (46.5%) marginal tax bracket, employees on middle and lower incomes can still secure significant benefits with innovative salary packaging.
This course is "hands on" with examples completed in class to ensure particapants have a complete understanding of the concepts and procedures for administering packaging.
Course Outline
Benefits of an effective reward strategy
- Benefits for the employee
- Benefits for the employer
Salary packaging
- Salary sacrifice
- Calculating the taxable value of a benefit
- Total Employment Costing (TEC) Effective salary packaging for lower paid employees
- Journal entries used to manage packaging in your software - liability accounts, GST, employee's payment summary and weekly payslip requirements. This will be demonstrated by the instructor in either MYOB or Quickbooks on the day, though concepts can be applied to any software package.
New for 2011-2012
- Latest rates and thresholds
New rules for packaging mobiles and PDA's
New rules for entertainment
Latest trends and packaging examples
Special updated information for PBI's
What can be packaged?
- Superannuation
- Cars - 100% private use, mixed use, commercial vehicles
Car parking
- Exempt benefits
- Child care
- Work related items (mobile phones and laptop computers)
- $1000 general deduction (From April 2007)
- Membership fees
- Newspapers and periodicals
- Income protection insurance
- Minor benefits
- Exempt food and drink
- Housing and relocation
- Loans
- Meals and entertainment
- Property fringe benefits
- Expense payment fringe benefits
- Residual benefits
- $300 minor benefits
Administration
- Reviewing procedures
- Establishing a policy
- Data handling
Motor vehicles
- Methods of providing vehicles (operating cost method, novated lease method, associate or own and lease method)
- Calculation of taxable value of a motor vehicle
- Payment summaries and reportable fringe benefits
- Communication and documentation to employees
Prerequisites
None
Assessment
On completion of this course, attendees will be provided with a Certificate of Participation.
Duration
1 Day - 9:00am to 4:00pm.
Cost
$399.00 (Inc GST) per person - Attend this course and Payroll & Office Tax Procedures for only $699.00!
Dates
Please click on the timetable link at top of screen to view dates
Registration
To register for this course please click here.
Can't Attend?
This course is now available on DVD!
More Infomation
If you require more infomation please don't hesitate to contact us.
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Your Day at a Glance
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8.45am |
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Register, Coffee |
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9.00am |
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Intoduction to FBT |
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10.00am |
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Packaging Scenarios, Laptops |
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10.30am |
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Morning Tea |
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10.45am |
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Exempt Benefits |
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11.30am |
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Motor Vehicles |
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12.00pm |
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Lunch - Usually hot lunch (subject to venue) |
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1.00pm |
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Meals, Entertainment, other benefits |
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2.15pm |
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Afternoon Tea |
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2.30pm |
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Relocation, LAFHA |
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3.15pm |
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Reportable Fringe Benefits, Payment Summaries |
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3.30pm |
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FBT Exempt and Rebatable Organisations |
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4.00pm |
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Handouts, course completion | |
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