How Tax Experts Are Helping Aussies Save up to $100,000 'Tax-Free'
If you were thinking about picking up a new set of wheels, there's a way to make it cheaper for you. Salary packaging is a popular solution where businesses offer motor vehicles as an extra incentive to employees. A novated lease can be of great financial benefit to staff, resulting in higher morale and lower staff turnover.
- This tax trick exploits a loophole in the Australian tax system that allows employers to provide cars to employees with little to no cost to themselves, making it an attractive option for businesses looking to boost employee satisfaction.
- How will governments regulate this trend in salary packaging and novated leases to prevent exploitation of loopholes and ensure fairness for all parties involved?