Salary sacrifice can be a great way to get a part of your remuneration in a form other than cash – and not personally pay tax on it.
Salary sacrifice (or salary packaging) is where you agree to take part of your wage as a benefit of some kind, equal in value to the salary it is exchanged for. The upside in you doing this is that your income tax is then based only on the reduced amount of salary that results.
If your employer agrees to go
Most businesses have an online presence – whether to advertise their business or allow customers to purchase goods or services. Websites vary in costs and complexity – from a simple “skin” to a retail site that you may have engaged a web developer to design and set up.
It’s just as well then that the Tax Office has recently provided guidance on how you can go about claiming a deduction for your website development costs.