Tax

Tax is money the Australian Government collects to pay for services provided to the community, such as health, education, social services and defence. There are different kinds of taxes including income tax, which is calculated on the income you receive.

Most people need to lodge a tax return after each financial year (30 June).

You have until 31 October to lodge your tax return, declaring your annual income and any work related expenses. If you use a registered tax agent you can lodge it later. You might get a refund if you have paid too much tax.

Read a tax overview provided by the Australian Taxation Office.

Salary sacrifice

Salary sacrifice is an arrangement between you and your employer. It is also known as salary packaging or total remuneration packaging. Salary sacrifice is not compulsory and might not be offered by all employers.

Some employers may offer salary sacrifice as part of a reduced wage (and a lower taxable income) and in return your employer provides you with benefits to a similar value.

Common goods and services that might be salary sacrificed include your superannuation, or vehicle costs.

Salary sacrificing is another way of paying less tax.

Read more about reportable fringe benefits including:

• what they are
• who pays fringe benefits tax (FBT)
• the different types of fringe benefits
• how your reportable fringe benefits amount is calculated
• what happens when you have fringe benefits reported on your payment summary.

Read extra information about living away from home allowances and benefits.