Salary packaging is an arrangement employees have with their employer to receive part of their salary as non-cash benefits, which reduces taxable income. Salary packaging offers employers, generally in government and not-for-profit organisations, flexibility in compensation to remain competitive by offering tax benefits to their employee. Doctors, especially those working in public hospitals or as part of certain healthcare organisations, are generally eligible for salary packaging arrangements.
Salary packaging can provide significant financial advantages for doctors, allowing them to optimise their compensation and manage their tax liabilities effectively. The salary packing system can be difficult to navigate and understand. This panel discussion will explore how salary packing can be best optimised to maximise benefits.