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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.
New for 2009-2010
Latest rates and thresholds
New rules for packaging mobiles and PDA's
New rules for entertainment
Latest trends and packaging examples
Special updated information for PBI's
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.
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Your Day at a Glance
8.45am Register, Coffee
9.00am Intoduction to FBT
10.00am Packaging Scenarios, Laptops
10.30am Morning Tea
10.45am Exempt Benefits
11.30am Motor Vehicles
12.00 Lunch - Usually hot lunch (subject to venue)
1.00pm Meals, Entertainment, other benefits
2.15pm Afternoon Tea
2.30pm Relocation, LAFHA
3.15pm Reportable Fringe Benefits, Payment Summaries
3.30pm FBT Exempt and Rebatable Organisations
4.00pm Handouts, course completion
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