Child Support and Salary Sacrifice. Are they F’n Serious!!!!!!
Well there I was thinking I could salary package my car and try and save a bit on tax and running costs each year. But, stupid me hadn’t realised, until I read the following article http://www.salarypackagingcards.com.au/index.php/child-support-salary-packaging/ , that if I salary package my car I will have to pay even more in Child Tax. I confirmed this with the Novated Leasing agent and it is in fact true. I still can’t believe it and I hope it isn’t the same in NZ but it’s certainly the case over here in Oz. So, by some magic form of creative accounting the CSA people calculate that I am being given a car which I’m actually paying for and calculate the whole thing as a fringe benefit. It seems that I can’t even take a dump without incurring more child tax. I am utterly gob smacked. Have any of you guys come across a similar thing. It seems like discrimination is a bad thing unless the discrimination is against a liable parent. I feel like a social leper. All my colleagues are salary sacrificing their cars and are saving money but it will actually cost me money because I am a liable dad!!!