Salary packaging is not always beneficial to employees as it may reduce their after-tax remuneration. a....

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Salary packaging is not always beneficial to employees as it may reduce their after-tax remuneration. a. Using the flow chart in Attachment A, describe in a paragraph whether Joe who is an executive at your local public hospital and earns a salary of $150,000 pa. would benefit from entering into a salary packaging agreement. b. b. You are the payroll manager, you will meet with Joe to seek and clarify his payroll information and provide him with advice on whether it would be beneficial to enter into a salary packaging agreement. Explain your findings to Joe. This will be performed as a role play; you are required to record and upload your meeting with Joe. Is your cash salary greater than $180,000 per year? Yes If your employer prepared, or able, to offer consessionally taxed or exempt benefits as part of your package? Yes Package concessionally taxed and exempt benefits only. Is your employer a PBI* or HPC or a public hospital or hospital run by a not for Yes profit employer? Is your employer a rebatable employer? No Yes Look up package benefits up to the $30,000 grossed up (where applicable) concessional limit. Package concessionally taxed exempt benefits above the limit. Look at packaging benefits, but check effective FBT rate v PMTR Can you access benefits taxed concessionally under the FBT regime, or benefits exempt from FBT? Salary packaging unlikely to be beneficial to you. Yes Look at packaging consessionally taxed and exempt benefits, but check effective FBT rate v PMTR* PBI Public Benevolent Institution HPC PMTR Health Promotion Charity Personal Marginal Tax Rate No Salary packaging is not always beneficial to employees as it may reduce their after-tax remuneration. a. Using the flow chart in Attachment A, describe in a paragraph whether Joe who is an executive at your local public hospital and earns a salary of $150,000 pa. would benefit from entering into a salary packaging agreement. b. b. You are the payroll manager, you will meet with Joe to seek and clarify his payroll information and provide him with advice on whether it would be beneficial to enter into a salary packaging agreement. Explain your findings to Joe. This will be performed as a role play; you are required to record and upload your meeting with Joe. Is your cash salary greater than $180,000 per year? Yes If your employer prepared, or able, to offer consessionally taxed or exempt benefits as part of your package? Yes Package concessionally taxed and exempt benefits only. Is your employer a PBI* or HPC or a public hospital or hospital run by a not for Yes profit employer? Is your employer a rebatable employer? No Yes Look up package benefits up to the $30,000 grossed up (where applicable) concessional limit. Package concessionally taxed exempt benefits above the limit. Look at packaging benefits, but check effective FBT rate v PMTR Can you access benefits taxed concessionally under the FBT regime, or benefits exempt from FBT? Salary packaging unlikely to be beneficial to you. Yes Look at packaging consessionally taxed and exempt benefits, but check effective FBT rate v PMTR* PBI Public Benevolent Institution HPC PMTR Health Promotion Charity Personal Marginal Tax Rate No