Shane has commenced a new job after completing his Master of Finance and has been given the option of taking a full salary of $192,000 plus 10% superannuation paid by his employer or salary packaging. He is concerned about paying too much in tax and how much will be taken in repaying his student loan debt of $110,000 and wants to minimize both if viable. He is thinking of packaging a new car valued at $60,000. The annual running costs including lease payments are $13,000. The FBT grossed up factor is 2.0802 and the Statutory Formula is 20%. The Fringe Benefit Tax rate is 47%. He is also thinking of packaging a new iPhone 12 valued at $1849 and a new Desktop Computer valued at $3000 and take the remainder in cash. Shane does not have private health insurance and the student loan repayment is at 10%.

1. Calculate tax payable with and without salary packaging.
2. Calculate the net cash available for both options.
3. What advice would you give Shane?