Tax Strategies

These 10 Tax Strategies apply to the majority of employees & produce the biggest tax savings (on average).

The ATO deems smartphones to be portable electronic devices and as such they are deemed an exempt fringe benefit when used primarily for the employee's employment.

An Employee Remuneration Trust (ERT) arrangement involves a trust being established to facilitate the provision of payments and/or other benefits to employees of an employer.

Taxpayers can contribute up to $15,000 per year in voluntary contributions that can be withdrawn for a first home deposit.

Using the entertainment facility leasing provisions of the FBT Act to make owning and operating a boat or yacht as tax effective as possible.

This strategy involves employees with large employment income salary sacrificing part of their wages into excess concessional super contributions. 

This strategy involves employee’s salary sacrificing $1,000 of wages income (which is taxable) for $1,000 of employer provided goods or services (which is tax free).

Work-related counselling provided to employees (and their associates) in order to improve or maintain their efficiency at work or prepare them for retirement will be tax deductible and FBT exempt.

Long service awards granted in recognition of 15 years or more service are tax deductible and FBT exempt up to a certain amount.

Employer provided taxi travel that is a single trip beginning or ending at the employer's place of work will be tax deductible to the employer and an FBT exempt benefit to the employee.