Meal Entertainment Card savings
The table below demonstrates the potential direct tax savings that you may achieve in each
Income Tax bracket. The calculations are based on the assumption that your taxable
income will remain within the same marginal Income Tax bracket after the payment
of your meal entertainment expenses. Income level should be based on the reduced
income after deducting other salary packaged fringe benefits.
Income Range
(after any other salary packaging deductions)
|
|
|
$18,201 - $37,000
|
$37,001 - $80,000
|
$80,001 - $180,000
|
More than $180,000
|
|
Annual Expense
|
Tax Savings
|
Tax Savings
|
Tax Savings
|
Tax Savings
|
|
$1,000
|
$205
|
$340
|
$385
|
$465
|
|
$2,000
|
$410
|
$680
|
$770
|
$930
|
|
$3,000
|
$615
|
$1,020
|
$1,155
|
$1,395
|
|
$4,000
|
$820
|
$1,360
|
$1,540
|
$1,860
|
|
$5,000
|
$1,025
|
$1,700
|
$1,925
|
$2,325
|
|
$6,000
|
$1,230
|
$2,040
|
$2,310
|
$2,790
|
|
$7,000
|
$1,435
|
$2,380
|
$2,695
|
$3,255
|
|
$8,000
|
$1,640
|
$2,720
|
$3,080
|
$3,720
|
|
$9,000
|
$1,885
|
$3,060
|
$3,465
|
$4,185
|
|
$10,000
|
$2,050
|
$3,400
|
$3,850
|
$4,650
|
The examples contained in this website are for illustrative purposes only and are of general nature only. They do not take into
consideration your personal circumstances. Southgate Salary Packaging Services provides administrative services on behalf of employers. We do not provide any advice on the financial,
taxation or welfare recipient benefit impacts relating to salary packaging. You should seek independent professional advice on how salary packaging may impact your individual financial, taxation and welfare benefit
circumstances before proceeding with salary packaging. The calculations in the examples given are based on Income Tax rates for the 2012 - 2013 financial year as at July 2012.
They assume that you are claiming the tax-free threshold and that you have no other salary packaged components or additional income/deductions.
Meal Entertainment Card savings
The table below demonstrates the potential direct tax savings that you may achieve in each Income Tax bracket.
The calculations are based on the assumption that your taxable income will remain within the same marginal Income
Tax bracket after the payment of your meal entertainment expenses. Income level should be based on the reduced income
after deducting other salary packaged fringe benefits.
Income Range
(after any other salary packaging deductions)
|
|
|
$18,201 - $37,000
|
$37,001 - $80,000
|
$80,001 - $180,000
|
More than $180,000
|
|
Annual Expense
|
Tax Savings
|
Tax Savings
|
Tax Savings
|
Tax Savings
|
|
$1,000
|
($154)
|
$42
|
$107
|
$223
|
|
$2,000
|
($309)
|
$83
|
$214
|
$446
|
|
$3,000
|
($463)
|
$125
|
$321
|
$670
|
|
$4,000
|
($617)
|
$167
|
$428
|
$893
|
|
$5,000
|
($772)
|
$208
|
$535
|
$1,116
|
|
$6,000
|
($926)
|
$250
|
$642
|
$1,339
|
|
$7,000
|
($1,080)
|
$292
|
$749
|
$1,562
|
|
$8,000
|
($1,235)
|
$334
|
$856
|
$1,786
|
|
$9,000
|
($1,389)
|
$375
|
$963
|
$2,009
|
|
$10,000
|
($1,543)
|
$417
|
$1,070
|
$2,232
|
The examples contained in this website are for illustrative purposes only and are of general nature only. They do not take into
consideration your personal circumstances. Southgate Salary Packaging Services provides administrative services on behalf of employers. We do not provide any advice on the financial,
taxation or welfare recipient benefit impacts relating to salary packaging. You should seek independent professional advice on how salary packaging may impact your individual financial, taxation and welfare benefit
circumstances before proceeding with salary packaging. The calculations in the examples given are based on Income Tax rates for the 2012 - 2013 financial year as at July 2012.
They assume that you are claiming the tax-free threshold and that you have no other salary packaged components or additional income/deductions.