Package your car — whether itʼs new, second hand, an existing vehicle that you own, a passenger car, a utility or a motor bike. You may even be able to salary package two cars under your contracting income, depending on your circumstances.
Salary packaging a vehicle is one of the most significant tax savings available to contractors and consultants— we process your salary package in-house, without the need to outsource to third parties who may have limited flexibility in the services they are able to offer.
We also provide you with a Corporate AMEX or VISA Card to use to pay for all business-related expenses including petrol and car services, as well as all your usual tax-deductible expenses. By claiming these expenses throughout the year, you maximise your cashflow by effectively claiming the tax deductions as they happen, rather than wait until after the end of the financial year when you lodge your tax return. You also gain the benefit of obtaining a discount for the GST portion of your business expense, as it is able to be claimed as an input tax credit by your employer, which means you will not be required to pay the GST. In many cases this effectively gives you a 10% discount, which is not achievable through claiming deductions later in your tax return.
|Professional payroll management
You will be employed by a specialist payroll company administered by AchieveCorp for the duration of your contract. We will process your timesheets, calculate your salary and essential deductions for income tax and superannuation, and transfer your net pay to you each period.
|Public Liability and Professional Indemnity Insurances
Your employer will be insured to an appropriate level, up to $20 million, for both Public Liability insurance and Professional Indemnity insurance, for your work undertaken at your client site.
|Workerʼs Compensation Insurance
You will be fully covered as a conventional employee for the purposes of Workers Compensation insurance in the State or Territory your main place of work is located.
|Mandatory employer superannuation contributions
Your minimum required compulsory employer superannuation, currently 9.5% of your gross income, will be deducted from your salary before PAYG is calculated, and remitted to your chosen super fund as frequently as you are paid.
|Salary sacrificed superannuation contributions
You may opt to salary package additional contributions up to your allowable annual limit. These additional salary packaged contributions are deducted from your gross salary before PAYG is calculated, and can provide you with significant tax savings. Talk to our financial planners for further information.
|Your choice of super fund, or use our default fund
Itʼs up to you whether you choose for your contributions to be paid to your existing complying super fund, a complying Self Managed Super Fund (SMSF), or our default employer fund, Colonial First State Super. Enquire with our financial planning team if you require qualified, professional advice regarding your superannuation investment.
|All super paid as frequently as you are paid
Despite superannuation only required by law to be paid to your fund each quarter, AchieveCorp wonʼt hold on to your money, we do whatʼs right by you and remit your superannuation each time we pay you.
|PAYG Payment Summary
Because you are an employee, you will receive a PAYG Payment Summary at the end of each financial year to cover your contracting income. This makes your tax return far simpler than if you were running your own company, preparing your own books, and having to prepare a company tax return as well as your individual tax return. We like to keep things easy for you!
|Basic tax return included
AchieveCorp is a CPA Practice, meaning we are a fully qualified professional accounting practice and can advise you on taxation and accounting matters with authority. Since we have most of your relevant taxation and employment details already in our system, we can save you time by preparing your tax return for you. If your tax return requires more complex schedules, we are more than happy to help and we will let you know if there is an additional cost for our taxation services. Contact our tax team for an appointment.
|24 hour access to payroll details through secure website
You may log in any time to access your employment and payroll details from our secure website, and you will have the ability to upload your timesheets, and professional expense reimbursements, directly through this portal. At the end of the financial year, your PAYG Payment Summary will be made available to you to download directly.
|No set-up or exit fees
We always welcome you on board with AchieveCorp with no hidden costs, and we will never penalise you for departing. You are always welcome back!
|Discount on Qantas Club membership
We have a long-standing relationship with Qantas, and are delighted to pass on our discount to our AchieveCorp Contractors. Ask our team how to apply.
|Expense reimbursement for FBT exempt items (laptop, iPad, mobile phone)
Your out of pocket cost to purchase once-off professional items for business use will be included in your next pay as a tax-deductible, salary packaged expense. Your employer will pay the GST component for you, and you will receive a tax deduction up front for the excluding GST amount. You wonʼt have to wait until the end of the financial year to claim these items in your tax return!
|Salary package your car(s), ute, or other vehicle
Under a salary package, your motor vehicle running costs, including lease payments, fuel, services, repairs, car washes, registration and insurance, become tax deductible expenses. The GST portion of these expenses is paid on your behalf by your employer. We process your expenses in each pay, so you receive the benefit of the tax deduction up front. Depending on your circumstances and the vehicle you are packaging, you may be required to pay an Employee Contribution or Fringe Benefits Tax for receiving the car benefits, but the benefits almost always outweigh the costs. Ask our team to calculate your estimated benefits.
|Salary package your motorbike
Under certain circumstances a motorbike may be an exempt Fringe Benefits Tax item, and therefore you may be able to salary package your bike to obtain taxation benefits, without being offset with the cost of FBT or an Employee Contribution. Ask our team to calculate your estimated benefits.
|Salary package the running costs of a car you already own
Not all vehicles need to be new or leased to be salary packaged! Under certain circumstances, for example if you have an existing car with a low value, you may benefit from salary packaging the running costs. This arrangement is simple and quick to set up, and will only cost you a small, tax-deductible fee to obtain the benefits. Ask our team to calculate your estimated benefits.
|Lease finance arranged if required
We donʼt mind if you come on board with an existing lease or if you would like us to assist you in setting up a new lease, whichever is more convenient for you, weʼre here to help. In either case we will arrange for your lease to be novated and salary packaged. A novated lease simply means that when your employment ceases, the novation agreement also ceases and you remain the owner of the vehicle and therefore responsible for the ongoing repayments.
|Credit card provided for vehicle and professional expenses
When you are salary packaging a vehicle with AchieveCorp, we make it simple for you to claim your vehicle running costs with a corporate Amex or Visa card for your day-to-day car expenses. Your statement is uploaded directly into our Payroll Management System, and each pay period your deductible expenses are included in your salary package.
|Living Away From Home Allowance (LAFHA)
In certain circumstances you may be eligible to claim Living Away From Home Allowance, which can provide you with significant tax savings. If you are genuinely eligible, your costs of renting away from your home, plus an allowable amount for food expenses, may become tax deductible under your salary package. As long as your circumstances meet the requirements of the legislation, you will always benefit from including LAFHA in your package. Ask our team for further details.
|Claim professional expenses (up to $330 per item)
Your usual tax deductible expenses as a professional employee can be claimed directly through your employer, rather than wait until the end of the financial year to include them in your tax return. You may use your corporate card to pay for your deductible business-related purchases, for example your mobile phone bill, professional development courses, computer consumables or stationery.
|Claim all deductible rental property expenses
If you have a rental property from which you earn rental income, the expenses of the upkeep of that property and utilities are likely to be tax deductible. These expenses can be reimbursed from your pre-tax income, giving you the benefit of a tax deduction up front, as well as the GST component of your deductible expenses is paid on your behalf by your employer. Ask our team for more information.
|10% discount for GST paid on most salary packaged expenses
This tax benefit is simply not available for expenses claimed after the end of the financial year in your tax return, but you donʼt need to own your own company to do this! When you are an employee of an AchieveCorp company, with some smart salary packaging in place, this small benefit adds up over time on all your tax deductible and salary packaged purchases.
Get paid when you submit your timesheet at the end of your pay period, thereʼs no need to wait for your agency to pay us.
If you have worked a full month for example, then submit your monthly timesheet, we can speed up your pay to make sure you get paid quickly instead of waiting up to another 6 weeks for your agency to pay, depending on your agencyʼs schedule.
For a small accelerator fee, this puts your money in your pocket, sooner!
Payment Accelerator Plus
Submit weekly timesheets and your pay starts now!
Thereʼs no need to wait until you have worked a full month. As with the Payment Accelerator, we will speed up your pay, but if your home budget works best being paid weekly, we can do that too, without interfering with your agencyʼs schedule.
When you start your contract, if you have selected this feature you can submit weekly timesheets to us and get paid weekly!