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Originally Posted by alien
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salary sacrifice-able so the real cost is $2,600
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now this is interesting. Which company is doing that for you? I might ask the company that my employer uses. Hmmm very interesting. |
FBT Act Section 52Y (Exemption from FBT)
When I say $2,600 it works out like this.
$4,200 less $381.81 (GST claimable) = $3,818 payable from your PRE-TAX salary. So instead of paying 30% (average) tax on $3,818 which is $1,145, you pay your QF Club not from your after tax (take home, which is already taxed) figure.
So $381.81 + $1,145 = $1526.81 is your savings.
$4,200 - $1,526 = $2,673 which is the real cost of QF Club. I should've said it's around $2,600.
It's not through any company. If your employer permits, you should be able to do it through them.