Report Ensure you use correct spelling, grammar, terminology, and conventions, use clear language and concepts...
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Accounting
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Ensure you use correct spelling, grammar, terminology, and conventions, use clear language and concepts appropriate to the audience of an Executive team to convey and clarify the information and requirements of salary packaging.
Task 1: Salary packaging options report
Submit a completed report using the template below:
Table 8 Report
Report:
Date:
Author:
Distribution List:
Purpose of the report:
Recommendation: (including reasons)
Recommend Option:Novated Lease
Reasons for recommendation:
Benefits employees in terms of take-home pay. Employee can choose car that suits their lifestyle.
No additional cost to employer and only small amount administration. Reduced liabilities and risks as employee own vehicle and novated lease can be transferred if employee leaves the business.
With smart salary, they will ensure that the agreement is done correctly to benefit both employer and employee.
References:
Smart Salary website
Australian Tax office website
Fair work
Appendices:
A: Workings for car allowance
B: Workings for Fully maintained company vehicle
C: Novated lease workings comparison tables
Answer & Explanation
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