How to Avoid Getting a Tax Bill

If you earn $100,000 a year ordinarily, your employer needs to withhold 7%. But if you tell them to throw 10 grand in super, your taxable income will drop to $90,000. So with salary sacrifice and helped at all reportable fringe benefit amounts, you've got two options when it comes to salary packaging. One is work out based on the year and your total package, what your repayment percentage would be. The other is ask your employer to withhold an additional amount each week. You won't get a bill or knowing your heart of hearts that you'll need to save up this amount yourself and pay the lump sum back when your tax return is lodged.