Salary Packaging
Salary Packaging is nominating to swap salary for certain benefits paid by Swinburne from your pre-tax salary. By 'packaging' part of your pre-tax salary in return for benefits, you do not pay income tax on the amount for the packaged item, providing a tax saving and a greater total value of combined salary and benefits.
Employees should seek financial advice on whether to salary sacrifice any packaging options. Car leases are liable to Fringe Benefits Tax, payable by the employee, however, packaging a vehicle may still provide an overall tax saving. In general, the cost of the packaged item is paid directly from your salary to the provider.
The University allows employees to make Pre tax and Post tax deductions at a maximum of 90% of their gross earnings.
All Swinburne Employees on at least a 2 year contract with the University are entitled to package a vehicle using a Novated Lease.
- Novated Lease
A standard finance leasing arrangement, where the employee enters into an agreement with a Financier for the lease of a motor vehicle. See Swinburne's Vehicle Policy for more information.
There are two external companies that handle car and motor cycle leases for Swinburne employees:
- NLC
- Leaseplan
NLC
- All about Salary Packaging with NLC
(takes you to NLC website) - NLC Contacts for Swinburne University
Leaseplan
- Click here for info on Car Leases and Other Items (including login information) Email. See LeasePlan Website for form
- Contact. 1300 668 572
What Do I Save?
Both NLC and Leaseplan have online calculators allowing you to estimate how much you can save.
NLC
Leaseplan and Salpac
- See the Affordability Calculator
- Note: If you create a login with Leaseplan you can also use their 'Package Calculator'.
You can salary package Child Care for any child care centre on campus. You may not salary package external centres.
For a list of centres Click here
Salary packaging child care is subject to the availability of a position for your child therefore your child needs to be enrolled in a centre prior to completing the D2 form.
Also be aware a pre-tax payment may reduce or negate eligibility for Child Care benefits.
All the information on Salary Sacrificing, including the forms, can be found on our Superannuation website.
To go to the Superannuation website Click here
You can also get more information from external websites which may be applicable to your super fund.
You can salary package reserved and non reserved parking for Hawthorn and reserved parking for all other campuses.
Facilities and Services have a range of information on their website regarding parking at Swinburne.
To go to the Facilities and Services Parking website Click here
The Facilities and Services website contains a section showing what salary will be deducted from your pay each fortnight.
Click here to be taken to the Fees and Charges section on the parking webpage.
Having this money taken out of your pre-tax salary means you will pay less tax in your overall take home pay.
Example:
| BEFORE Packaging | |
| Salary Per Fortnight | $1500 |
| Tax | $222 |
| Net Pay | $1278 |
| Reserved Hawthorn Car park | $59.08 |
| Disposable Income | $1218.92 |
| AFTER Packaging | |
| Gross Salary | $1500 |
| Reserved Hawthorn Car park | $59.08 |
| Salary Per Fortnight | $1440.92 |
| Tax | $202 |
| Net Pay | $1238.92 |
| Disposable Income | $1238.92 |
This works out to a saving of $20 a fortnight or $520 a year. With a Reserved Hawthorn Car park costing $1536 a year this is now the equivalent to $1016, a saving of 34%.
Note: This example should be used as a guide only as circumstances will be different for each person. To get an idea of Tax rates Click here (choose Fortnightly tax table from the list)
You can salary package Gym Membership for Swinergy - Swinburne's sport and recreation centre situated on Hawthorn campus.
Swinergy offer a range of Gym memberships and Health & Fitness classes.
To go to the Swinergy website Click here
