There’s a super way you could increase your take-home pay.

Did you know you could be eligible to salary package your standard and any additional voluntary superannuation contributions, potentially increasing your take-home-pay while still growing your nest egg?

Typically, Queensland Government employees have their standard superannuation contribution set at 5% of their salary, which enables an employer contribution of up to 12.75%. These numbers differ for Queensland Police staff; refer to the Superannuation Information Booklet for more information.

With RemServ, a trusted name in salary packaging and proud to be part of the Queensland Government panel of providers for more than 20 years now, the 5% (or other selected standard contribution percentage) would be deducted from your salary before tax is applied – meaning that you could pay less tax and could have more spending money each pay! And if you wish to further increase your retirement fund, you can choose to make voluntary super contributions in addition to your standard contribution amount.

An example

For more information on this benefit, click here to view the FBT Exempt Benefit Items Fact Sheet and Superannuation Information Booklet.

Employees can salary package both standard and any additional voluntary superannuation contributions.

The salary packaging of standard and voluntary superannuation contributions can be made only to a regulated superannuation fund that has a complying status.

All superannuation contribution funds are sent directly to the employee’s chosen Super fund.

Disclaimer

In the salary packaging example, the benefit amount shown is after the following have been applied:
                        Applicable tax as shown with 2018/2019 (packaging) personal margin tax rates
                        Medicare levy of 2%
                        Administration fee $38.74
                        Refund of GST paid (Input Tax Credit) $3.82

When you package additional contributions your super is taxed at a ‘concessional’ (before-tax) rate of 15%. For every dollar you contribute, 85 cents go directly into your superannuation account.

There is an annual limit of $25,000 (including your employer's contribution of up to 12.75%) that can be packaged to super before excess contributions tax becomes payable. Additional super contributions will be reported in your annual payment summary and will be used to assess your eligibility for a number of government benefits, or liability for certain payments.

This general information doesn’t take your personal circumstances into account. Please consider whether this information is right for you before making a decision and seek professional independent tax or financial advice.

RemServ strongly recommends that before you make any decision on a novated leasing/salary packaging product, you obtain your own independent specialist professional advice including financial advice and personal taxation advice from a licensed tax adviser on your particular circumstances.

Conditions and fees apply. The availability of benefits is subject to your employer’s approval. RemServ may receive commissions in connection with its services. Remuneration Services (QLD) Pty Ltd | ABN 46 093 173 089