What's New?

What's New?

Curtin Goods limit raised to $1,000 from 1 April 2007

Owing to a recent legislative change, you are now able to increase the maximum amount that can be packaged for Curtin Goods from $500 to $1,000 (excluding GST). The change will come into effect for the 2007/2008 Fringe Benefits Tax (FBT) year, which commences on 1 April 2007.

We are pleased to announce that along with purchases from the Curtin Book Shop, and bicycles from the Fitness Centre, we have now added Artistry (the retail outlet at the John Curtin Gallery) to the Curtin Goods category. You will be allowed to spend monies in all three areas, as long as the total spend does not exceed $1,000 (excluding GST).

The Super Co-contribution

The Super Co-contribution is a scheme where the Federal Government pays $1.5 for every dollar of 'personal superannuation contribution', up to a limit set by your taxable income.

Currently the maximum amount that can be received is $1,500, and this maximum reduces by 5c for every dollar of taxable income over $28,000, cutting out at $58,000.

Contributions made under a salary packaging arrangement are not considered to be 'personal superannuation contributions' and so do not attract the Co-contribution. However, the strategy of using the savings that can be obtained from Salary Packaging to make a post tax super contribution can actually increase your eligibility to the Co-contribution without reducing your take home pay.

General information on maximising your super contributions thru Salary Packaging and the Co-contribution payment can be found on this page.

You can discuss this in detail with one of our Sal Pac Advisors. Call x 3860 for an appointment, or fill in your details on the feedback page.

Reference: http://www.ato.gov.au/super/content.asp?doc=/content/42616.htm