FAA SALARY PACKAGING ADMINISTRATION BUREAU

What is FAA Salary Packaging Administration Bureau?

FAA Salary Packaging Administration Bureau provides the comprehensive Administration of Salary Packaging for Organisations including all reporting and compliance requirements combined with a complete and professional Salary Packaging service for your employees.

FAA Salary Packaging Administration Bureau supports your company employees with the relevant financial advice for their Salary Packaging needs considering their individual situation and tailoring their packaging to suit.

Most importantly for your employees, FAA does not merely advise employees to seek financial advice on Salary Packaging – FAA provides the advice to employees.

What is Salary Packaging?

Salary Packaging is a way of restructuring the employee’s income to reduce the amount of tax that they pay.

Approved by the Australian Tax Office (ATO), Salary Packaging means your employees can pay certain expenses out of their salary before they pay tax. This means the tax they pay is calculated on their reduced income after the nominated expenses are paid.

There are a number of things that can be salary packaged depending upon what your Organisation offers:

What are the benefits of the FAA Salary Packaging Admin Bureau?

Our comprehensive and convenient service approach provides your staff with both the required advice and support through the setup process of Salary Packaging. We have found that by being onsite regularly, your employees are better educated and are kept informed.

We have significant experience in adapting roll-out programs to specific employee groups and site requirements.

Our aim is to develop long term relationships with your team and provide ongoing assistance. Repeat clients and referrals are extremely important and we recognise this is achieved through building these relationships.

We have our own web development team that will tailor your personalised Intranet for your employees complete with relevant branding and individual organisation login. Your Employees can access information and forms regarding their Salary Packaging on this site.

In addition, each employee is also provided with an online login to allow them to view their Salary Packaging account at their convenience.

Our Calculators & documentation are designed to be easily understood and comprehended.

Benefits to your Employees:

• Comprehensive information sessions for Employees which simplify the Salary Packaging process
• Focused professionals to assist the process
• We assist employees to package in the most beneficial way on individual basis
• Education and awareness of the effects Salary Packaging has on HECS, Family payments, Child Support etc.
• Empowering employees with knowledge regarding Salary Packaging
• Workshops to encourage an increased take up rate of employee’s Salary Packaging
• Fully flexible packaging options including a combination of services
• Ability for your organisation to access expert FBT advice
• Salary Packaging advice from a qualified Financial Adviser for those employees who have circumstances that are more complex
• Available on site to ensure that employees have access to further information and assistance with forms
• We operate within the FBT year, ensuring all staff are provided full benefits each year
• We reduce risk to employees by ensuring that all packaging is ATO compliant

Benefits to your Organisation:

• Clear communication
• Flexibility to suit your organisations requirements
• We reduce risk your organisation by ensuring that all packaging is ATO compliant
• Simple structured implementation process
• Initial Education and training for Payroll, HR and Finance departments
• Ongoing Education and training as required

How can we help your staff?

We are able to educate you about what can and cannot be salary packaged. We know what the guidelines are on Salary Packaging and can assist in the set up and in the completion of paper work for employees.

How does the FAA Salary Packaging Admin Bureau work?

During implementation, we conduct Information Sessions at your sites to introduce the concept of Salary Packaging and to familiarise your employees with the administration of the program.

We complement the sessions with ‘one-on-one’ appointments with employees to explain the Salary Packaging program and to answer questions.

We will assist employees with any queries on income tax, superannuation, HELP/HECS, Centrelink & Child Support (where possible) and other implications of Salary Packaging.

A major point of difference is that the professional staff from FAA will attend each workplace on a regular basis to offer advice, administration and assistance to all staff.

Reporting

FAA Salary Packaging Administration Bureau provide employers with a suite of reports that will assist them with all the information required to comply with the applicable taxation legislation.

• Goods and Services Tax (Input Tax Credits);
• Employee payment reconciliation;
• Fringe Benefits Tax;
• Payment Summary Reporting; and
• FBT Reporting