Monday, October 31, 2011

Salary Packaging : Mark Amos




Name: Mark Amos

What does your business do?

The JSA Group has offices in Newcastle, Charlestown & New Lambton NSW providing Financial Planning, Accounting, Mortgages & Finance, and more recently Salary Packaging.

What is salary packaging and how does it help me if I am employee?

 Salary packaging allows employees to bundle benefits (such as cars, laptops, super etc) pre-tax.  This may provide substantial savings and an increase take home pay. 


Is there a benefit for employers to be doing salary packaging or does this just
add more work for them to do?


For employers, salary packaging can attract and retain quality staff at no cost to the business, by providing substantial additional employment benefits.

JSA takes care of all the administration in a simple, uncomplicated process.

What do like most about your work?
Unlocking business potential and driving business growth.  Connecting people, providing solutions and delivering outcomes.

Is there a typical kind of person or business with whom you work?

Fulltime employees in small business, not for profits, public health or rebatable organizations (eg Private Schools).   

Where does salary packaging sit in running a business effectively?
Most business owners acknowledge that the greatest asset in their business is their people. Most would welcome the opportunity to reward their staff with higher salaries or increased benefits.

Salary packaging is a means of providing this reward to staff at no cost to the business.

Can I do it myself?
Definitely.  Salary packaging is merely a way of taking advantage of lucrative taxation benefits on offer to employees.

JSA can either help you do this yourself, or we can take over the entire compliance and administration burden from you.

Are there common problems you see in how businesses arrange their business around benefits and assets such as cars and the like?
Motor vehicles are always a big problem for a business – from what to buy, how best to buy it, how to finance it, how to service and maintain it, how long to keep it, and how best to dispose of it. 

Much of this is done “ad-hoc” and without too much thought or external advice, and left to the accountant to sort out the mess at the end of the financial year.

JSA can substantially reduce vehicle ownership and management costs to a business, reduce the administration burden and turn this into a value employee benefit.

What would you suggest businesses look for when balancing their business's bottom line with obligations and benefits for employees?

There are a number of substantial benefits that can be provided to employees without impacting on business profitability.  This can include offering a good superannuation scheme, a group insurance scheme or a well resolved salary packaging arrangement.

All of this can be provided at no cost to the employer through the assistance of the JSA group.

What are some other flow-on effects have clients noticed after setting up salary packaging with good results?

Clients tend to attract and retain good staff that are more engaged, incentivized and rewarded through salary packaging arrangements.

Do you have any tips for businesses looking to review the way they approach these issues in the business?

Take the time to see how salary packaging can benefit your business (irrespective of its size or industry type). Salary packaging is often seen as too hard or complex which is simply not the case.  In a tough employment climate, salary packaging can provide a significant competitive edge to your business.

What locations do you service?

All states and territories of Australia.

How can people reach you if they would like to discuss salary packaging options?

By phoning (02) 4908 0999 or emailing me at marka@jsagroup.com.au or visiting www.jsagroup.com.au

Any information contained in this communication is of a general nature only and does not take into account your circumstances or needs. You must decide if this information is suitable to your personal situation or seek advice.

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