123ArticleOnline Logo
Welcome to 123ArticleOnline.com!
ALL >> General >> View Article

How Does The Federal Budget Update Affect Your Salary Packaging Arrangement?

Profile Picture
By Author: Eziway
Total Articles: 15
Comment this article
Facebook ShareTwitter ShareGoogle+ ShareTwitter Share

On Tuesday, 29 March 2022. The Federal Government delivered its comprehensive 2022-23 Budget outlining many measures it intends to take to alleviate the cost of living for Australians.

For individuals that hold a salary packaging arrangement, no measures announced have an impact on your salary packaging or novated leasing arrangements with Eziway. You can continue to package as normal.

Here are some Federal Budget update changes around the cost of living that may be of interest to you:

· Temporary reduction of fuel excise: The Government will reduce the fuel excise by 50% for 6 months. This will see excise on petrol and diesel come down to 22.1 cents/ litre from 44.2 cents/ litre.

· Medicines will become cheaper: Through the Pharmaceutical Benefits Scheme (PBS) the Government is again reducing the Safety Net thresholds giving Australians more access to affordable prescription medicines without the need for large out-of-pocket expenses. The Government is also investing a further $2.4 billion to support access to cost-effective PBS medicines.

· More funding towards Aged Care Support: ...
... The Government is committing a further $468.3 million in support for the aged care sector, building on its commitment in 2021-22.

· One-off cost of living tax offset: From 1 July 2022, eligible individuals earning below $126,000 per annum will receive a one-off $420 cost of living tax offset. Combined with the Low- and Middle-Income Tax Offset (LMITO), eligible low- and middle-income earners will receive up to $1,500 for a single income household or up to $3,000 for a dual-income household.


If you have any questions about your Salary Packaging or Novated Leasing arrangements, please contact your dedicated Client Service Officer on 1800 932 394 or email us at admin@eziway.net.au


For more details visit our website: https://eziway.net.au/

Total Views: 195Word Count: 283See All articles From Author

Add Comment

General Articles

1. Unlock Your Future With Astrologer Sagar: The Best Horoscope Reading Specialist In New Zealand
Author: Sri Sagar

2. ଏହି ସହରରେ ପସନ୍ଦର ଚାକିରି ସହ ଭଲ ଦରମା ପାଆନ୍ତି ଏମବିଏ ଗ୍ରାଜୁଏଟ
Author: Argus News

3. The Perfect Paella Recipe Followed By Paella Catering In Boston, Ma
Author: Paella Catering

4. Water Chillers Market Upcoming Trends And Overview Forecast Till 2031
Author: pushpa

5. ଟଙ୍କା, ନିଶା, ମଦ ଦେଇ ଭୋଟ କିଣୁଛି ବିଜେଡି
Author: Argus News

6. Heavy Duty Telehandler Demand, Overview, Shares, Growth Opportunities And Top Companies
Author: pushpa

7. Pigskin Gelatin Market Size Growth And Forecasts 2024-2031
Author: pushpa

8. Fire Fighting Foam Market Demand, Overview, Shares, Growth Opportunities And Top Companies
Author: pushpa

9. Small Bulldozer Market Growth And Forecast To 2031
Author: pushpa

10. Sports Composites Market To Witness Heightened Revenue Growth During The Forecast Period 2031
Author: Radha Bhandari

11. Sanitary Napkin Market Upcoming Trends And Overview Forecast Till 2031
Author: Radha Bhandari

12. Tokenization Market Demand, Overview 2024-2031
Author: Radha Bhandari

13. Phase Change Material Market To Receive Overwhelming Hike In Revenues By 2031
Author: Radha Bhandari

14. Prepreg Market Market– A Comprehensive Study By Key Players: 2024-2031
Author: Radha Bhandari

15. ବାପା ଫଳ ଦୋକାନୀ, ଝିଅ ମାଟ୍ରିକରେ A-1 ଗ୍ରେଡ
Author: Argus News

Login To Account
Login Email:
Password:
Forgot Password?
New User?
Sign Up Newsletter
Email Address: