Salary sacrificing mortgage repayments

[tremolo]

Hi all,

I've trawled through the ATO website but it's not been much help for what I'm after. I know non-profit workers can salary sacrifice mortgage/rent repayments, but I'm wondering if government workers qualify for the 'non-profit' category? My girlfriend is a teacher and we've just bought a house, and any savings we could make on the repayments would be great - can anyone advise?

Cheers,
T

 

[TheCamel]

i've investigated this avenue.. and i'm gonna say, sadly, no.

although ymmv depending on the agency you work for..

 

[Spectre]

Tremolo

Track down/Ring QInvest, I think they have a list of who can salary sac for what, and what gets FBT charged and what doesnt.

Planners there - Neil Purcell, Therese Broderick who I worked with many moons ago and were smarter than the average bear when at cba

http://www.qinvest.com.au/qinvest/do/page/OP_financial_planners#20

Let me know how you go

Regards
Richard

 

[Pushka]

The benevolent organisations allow people to salary sacrifice, but even these are starting to close off that possibility too. My brother is about to lose his ss opportunity because of these changes. He used to ss the school fees up to $15000 but this finished this month I think.

They brought ss in for these workers to compensate them for the lower salaries people working in such areas were usually paid. So no way that teachers would qualify.

 

[Sheryn]

tremolo

Ask girlfriend to contact her pay office for information or the website address to find out about what can be salary sacrificed.

In NSW depends on whether you are employed as a casual/permanent-part time teacher, temporary fulltime [contract] teacher or permanent teacher.

Permanent teachers have more options to salary sacrifice in NSW.


Regards
Sheryn

 

[MishMash]

I'm not a teacher, but i work for a 'benevolent institution' and we are allowed to salary package about $16,800. It means i get about $6000 extra in my pay packet every year, i love it.

I DON'T love the company that handles our salary packaging, they are so incompetent and have a habit of losing my receipts that I send to them!

 

[Pushka]

tremolo

Ask girlfriend to contact her pay office for information or the website address to find out about what can be salary sacrificed.

In NSW depends on whether you are employed as a casual/permanent-part time teacher, temporary fulltime [contract] teacher or permanent teacher.

Permanent teachers have more options to salary sacrifice in NSW.


Regards
Sheryn

The Taxation laws dont differentiate by states for the definition of 'benevolent'. Unless your employer is classified as a benevolent organisation, then while you may be able to Salary Sacrifice, you will end up paying it back because of Fringe Benefits Tax, which most employers add on to the employee's tax certificate. For those of us under the FBT regime there is very little you can salary sacrifice,

 

[Ozsunrise]

There are seom areas taht are different between states. I work for an extremely large gov organisation. Most staff who work in hospitals qualify for pbi, the area I work in does not, yet in NSW, my counterparts do qualify! All very confusing, but getting your girlfriend to check, then calling them directly is the best.
Susan