Salary package your bus fare for travel to and from work

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Have you ever wondered why we have to pay to get ourselves to work? That extra $90-100 per week is an absolute killer. But did you know that you can Salary Package your bus fare that gets you to and from work? With SPA’s bus travel benefit, you can pay for your bus fare using your pre-tax gross income. It works just like a go card and is loaded up with cash using pre-tax dollars from your salary. The Bus Travel Benefit has no limit to the amount you can salary package, as long as the journey is to and from your work and the card is automatically topped up, again, with pre-tax dollars, to help you stretch your salary that much further. Here’s an example: Sally makes approximately $85,000 a year and pays bus fares of around $39.00 a week travelling between her home at Chermside and work in…

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Lost the company car and need a novated lease for work?

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SPA gets close to one hundred enquiries every month from staff members and employees who are leaving the company car behind and taking allowances instead. The big change that has pushed the death of the company car over the edge has been the change in tax legislation that requires operating leases to be placed on balance sheets. This has forced most CFO’s, and HR managers to rethink the way that they use the company car and to what level. Many organisations have moved towards a car allowance program allowing the employee to take advantage of an extra payment back to the salary instead of using the work supplied vehicle. This all of a sudden has thrown some questions into the market, so, we are here to debunk them.   Your company has just announced you’re losing your company car. Firstly, don’t panic, most employers will give an employee suitable notice…

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What is the Salary Packaging Living Expenses Card and how can it be used so you can save?

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The Salary Packaging Living Expenses Card is the easiest way to spend your living expenses. SPA and MyCardPlus have teamed up to provide employees with a simple and easy way to pay for your living expenses. This way, you don’t have to provide receipts or proof of purchase as they are easily tracked using the card. With the Salary Packaging Living Expenses Card, you may be able to package up to $9,010 of your gross annual salary for everyday items, such as bills, groceries, clothing, private travel and many more. Many of us have different accounts for certain expenses such as rent or mortgage payments, bills, fun expenses and savings. Having the MyCardPlus card, this will eliminate most of those accounts, as well as doing so with your pre-tax salary. The amount that you and your salary packaging advisor agree on will be loaded onto the card and can be…

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Thinking of buying a Mitsubishi ASX LS?

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When reviewing small SUVs, I must admit I have been known to turn up my nose and give them a pretty bad review. Well, there is a first time for everything, and this time it’s the Mitsubishi ASX LS. To put it simply, this car rocks it with the big boys. It has dollar for dollar features and is about $3000-$4000 cheaper than its brethren. Over a 2 day period, I put approximately 300kms on the odometer in this car’s home territory, the inner city suburban landscape. Make no mistake, this car won’t take you to Bourke and back on unsealed roads and bush tracks, but it’ll navigate car park shopping centres with ease. It’s simple to drive and actually has road feeling, so when you feel the bumps in the road and turn the steering wheel, it responds. It doesn’t feel like the typical mid 20K new car that lollipops all…

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Can I get a novated lease on two vehicles?

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One of the most common questions that we get asked by clients is, ‘can I have two car leases running concurrently?’ The answer is simple, yes. You can also novate a car for your wife/husband/spouse or children. Now, every employer is different and some have rules about whether you can have two or more leases or the cylinder requirements of the vehicle, however, the majority of employers allow multiple leases. The process is the same regardless of the number of vehicles you lease. You find the right make, model and colour and then work out the car’s usage and term of the lease but this is what your Novated Account Manager is here to help you with. From finding the best deal on the car, looking through our panel of lenders, working out how much fuel the shiny new V8 Mustang could use. So, why have two novated leases? You have…

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Toyota Hilux continues to be Australia’s best-selling vehicle.

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After taking the title in 2016 for Australia’s best-selling vehicle, the Toyota Hilux has done it again and continues to hold the title for 2017. According to the Federal Chamber of Automotive Industries (FCAI), in December alone the Toyota Hilux topped the market at 3949 sales, followed by the Holden Astra (3533), the Ford Ranger (3458), the Holden Colorado (3222) and then the Mazda3 (2807). Not only have Hilux 4X4 sales increased by 13.6 percent when compared with 2016 but overall vehicle sales for 2017 that amounted to 1,189,116 units, meant a 0.9 percent sales increase. Another record year for overall vehicle sales. Despite economic warnings, this sales boom is expected to continue in 2018, as predicted by the FCAI, due to economic growth, low-interest rates, and competition. Now the question is, will Australia continue to shun traditional sedans and hatchbacks in favour of utes and SUVs? And with the…

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What is the Meal and Entertainment Card and how can this benefit be used?

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If you work for a not-for-profit employer or the Northern Territory Public Health Service, you may be eligible to salary package $2,650 per year by using the meal and entertainment benefit on meals, entertainment, and even accommodation. We interviewed our General Manager, John Heinke to give you more information about this benefit.   What is a Meal and Entertainment Card? Meal and Entertainment cards are a type of Australian tax office salary packaging available to employers who work for the NT public health service or those who qualify as not-for-profit (an entity set up for the benefit of members) e.g. a trade union or a public Benevolent Institution (charity for tax purposes) e.g. Royal flying doctor service. The meal entertainment card allows employees to expense food and drink, entertainment, holiday accommodation, and even venue hire while using pre-tax dollars.   How much can an employee save each fortnight or each…

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What are the January Runout Sales and is it a good time to buy a vehicle

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It’s January. Christmas has been run, done and won and the wonderful holiday season is now over for another year.   Every time you turn on the TV or the radio there is someone rabbling on about their HUGE run out deal on 17 plated cars and their Factory Bonus is that big that it will never be repeated. So you, as the everyday consumer, might ask if this is a great time to purchase that new vehicle or is it better to wait. Well, depending on your situation, it may be a great time to buy if you fit the requirements. Below are few ideas to take into consideration.   What are run out sales?   Run out sales are what motor dealers use to move out last year’s stock. In essence, they are the same as any retailer.  Aging stock is a hindrance on the bottom line and…

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Looking for the best car loan? Then don’t get finance from a car dealer

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It’s the question we get asked at SPA a lot. How do I get the best car loan? However, the question that customers should look at is how do I get the best car loan for my situation? This question is far more appropriate, as comparing loans on interest rate alone can be treading a dangerous path. Whilst it’s a great way of measuring payment, it doesn’t necessarily take into account an individual’s situation. In many cases, and industry studies, more than half of all applicants have to use a “non-conforming” credit facility. So what does this really mean? Remember that power bill that was forgotten about when you moved rental properties or telco bill you disputed that took months to solve about being overcharged? Well, two to three of the major banks won’t even consider your loan. This is why talking to a broker is a lot better than talking…

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Prepare for your summer road trip with our playlist ideas

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It’s almost summer again and this can only mean one thing! It’s time for a swim at the beach or river with your family or friends. Everyone packs into the car to head off but there’s usually a fight over what comes over the audio system. Similar to negotiating a peace settlement between nations, someone will have to come up with a playlist that keeps everyone happy! It’s harder than you think and all well-prepared individuals will have a few on hand to suit all audiences. Get your road trip off you a happy start with these playlist ideas: Think classic. Everyone likes the Beatles. They might say they don’t, but it’s hard not to sing along or tap your foot to a Hard Days Night, or even The Stones Jumping Jack Flash. Queen makes everyone happy too! Avoid the obscure genres or artists that no one has ever heard of….

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