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.

    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.