So you’ve taken the first step and started thinking about joining the not-for-profit industry. Aside from the wonderful benefits of having passion and purpose every day, let’s talk about the unique offering that only applies to the not-for-profit industry.
Salary Packaging!
The Australian government provides not-for-profit organisations with generous tax concessions to attract and retain a valuable workforce.
Organisations included in this generous entitlement are:
One of the concessions for these organisations is exemption from Fringe Benefits Tax up to the following capped thresholds;
What does this mean to you when applying for a role in the not-for-profit industry?
It simply means that a portion of your annual gross salary can be salary sacrificed to reduce your overall taxable amount and increase your take-home pay.
Here are some examples of the potential tax-saving structures:
NFP Salaries vs Private Sector Salaries
At first glance, your $50,000 private sector salary may seem loaded with benefits, however it’s important you understand your gross salary equivalent when considering a role in the Not for Profit industry.
Eziway have created simple and easy-to-use tools to guide you through the complexity of Salary Packaging and show you any impacts on your Salary.
To calculate your not-for-profit sector salary, use our calculator below
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