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Calculate the costs incurred by the employer

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Reference no: EM133006430

Todd Williams works for Little Pear Administration Pty Ltd as a sales executive. He was recently promoted from sales trainee and he is considering salary packaging meal expenses in the next FBT period 2019/20.

Current employment contract (without packaging) extract:

Full-time

Gross Salary $80,000

After-tax pay $61,933 (after allowing for $1,080 tax offset).

Salary Package information:

Meal expenses benefit - $5,500 (including GST)

a) Calculate the costs incurred by the employer in relation to providing the meal expenses for Todd (show your workings).

b) Todd's after-tax pay with the salary sacrifice option would be $54,809 (includes LMITO). Calculate and show your workings for the total benefit value for the package.

According to Little Pear Salary Packaging Policy, would this agreement be accepted or rejected? Explain why it is accepted or rejected.

Reference no: EM133006430

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