Mining and Resources Benefits

Salary Packaging Australia helps you take advantage of the wide range of tax saving benefits available to the Mining and resources sector. There are many more tax saving benefits than a just novated lease.

 

Utilise our comprehensive experience in mining and resources to attract, recruit, engage and retain skilled employees with attractive benefit packages which will allow them to pay less tax, and have more take home pay every pay cycle.

 

Both employers and employees can use these calculators to find out the huge tax savings possible.

What is Salary Packaging?

Salary Packaging is a tax effective way to receive your salary as a combination of income & benefits that allows you to deduct some of your pre-tax income & use it to pay for a variety of benefits. By reducing your pre-tax income you can reduce the amount of income tax you pay & in turn, increase your take home pay each pay day.

FIFO         DIDO         REMOTE

Benefits: Mining & Resources Sector

Choose from the multiple benefits provided by Salary Packaging Australia to help your employees save thousands in tax. Additionally, this will add no cost to you, as the employer.

Novated Lease

Offer employees a cost-effective way to get into your next vehicle through Novated Leasing. The everyday running expenses that employees would normally incur are incurred in Pre Tax and a GST free arrangement.

This means that employees will now be able to pay for various items out of income that has not been taxed!

Costs included in a Novated Lease:

  • Fuel
  • Vehicle registration
  • Insurance
  • Tyres
  • Servicing
  • Roadside Assistance
  • Finance Payments

Novated Lease Fact Sheet

Employers can deduct vehicle financing & runnings costs from an employee’s pre-tax income.

Don’t see the vehicle you want?

No problem, SPA can get you a deal on all makes and models. 

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Fly-In-Fly-Out (FIFO) Benefit

If an employee is Fly-In-Fly-Out, they may salary package theses expenses, including the full cost of their flights, either one way or return. This occurs from their gross income to enjoy potential tax savings. This benefit is 100% FBT exempt. This benefit is subject to conditions, which includes the requirement that employees must live on an employer owned/run camp to be eligible for this benefit. Please check with your designated Business Relationship Manager to find out if your company is eligible to provide this benefit.

These include:

  • Flights
  • Indirect Flights
  • Lounge memberships

Calculate FIFO Savings     Enquire Now

FIFO Fact Sheet

Do your employees fly to work away from their usual place of residence? See what they can claim.

Drive-In-Drive-Out (DIDO) Benefit

If an employee is Drive-in-Drive-out, they may salary package theses expenses, including fuel. Employees can salary package the kilometres they drive from home to camp, and return to home. Employees can salary package the kilometres they drive from home to camp, and return to home. This will occur through their gross income to enjoy a possible tax saving. Similarly to the FIFO benefit above, this benefit is subject to conditions, which includes the requirement that employees must live on an employer owned/ run camp to be eligible for this benefit. Please check with your designated Business Relationship Manager to find out if your company is eligible to provide this benefit.

These include:

  • Travel costs including fuel

Calculate DIDO Savings      Enquire Now

DIDO Fact Sheet

Do your employees drive to work and stay long periods onsite, away from their usual place of residence? See what they can claim.

Remote Benefit

If your employees are already local residents, they may be eligible for remote area benefits depending on where exactly they live. These areas are designated by the ATO and residents in these areas can salary package either 50% of their rental payment, or 100% of their remote area mortgage interest payments. Better yet, if an employee is living in an employer owned residence, 100% of their rental payment can be claimed

These fringe benefit tax (FBT) exempt items are offered by the Federal Government to assist rural & remote organisations to attract & retain employees.

These include:

  • Remote area rent
  • Remote area mortgage interest
  • Remote area fuel (i.e. energy, gas)

Calculate Remote Savings      Enquire Now

Remote Fact Sheet

Employees working in a remote area and paying thousands on rent or mortgage interest?

Living Away From Home Benefit

A Living Away from Home Allowance (LAFHA) can be provided to an employee who is required to live away from their usual place of residence on a temporary basis to perform the duties of employment. This would suit someone on a probationary or trial period. In the first 12 months, the employee is entitled to packaging rental costs, as well as living expenses.

These include:

  • Food
  • Accommodation

Calculate LAFHA Savings      Enquire Now

LAFHA Fact Sheet

Do your employees live away from home for work? See what they can claim.

Relocation Benefit

If the employee is required in a different location, the relocation allowance will make the transition much smoother. Where it is necessary for an employee to relocate to take up a position at a new location, and removal or storage costs is incurred to move from their usual place of residence, and the removal costs occur within 12 months of taking up employment at the new location, then 100% of this cost can be reimbursed to the employee via their pre-tax income. If an employee decided to fully relocate to the new area, he or she would be entitled to continue packaging their rent and living expenses for an additional 12 months, as well as any expenses for selling their house and moving to the new area.

These include:

  • Removal and storage of household effects
  • Temporary rental accommodation
  • Sale or acquisition of home
  • Relocation transport

Calculate Relocation Savings      Enquire Now

Relocation Allowances Fact Sheet

Employees relocating for work? See what they can claim.

Want to know more?

Simply fill out the form below to find out how SPA can help set up Salary Packaging for your workplace.

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Unsure if your company is eligible to offer these benefits?

Contact Salary Packaging Australia to find out more about benefits for the mining and resources sector and to find out if your company is eligible to offer your employees any of these great benefits.

1300 786 664