Living Away From Home Allowance (LAFHA) and Salary Packaging
At Unique we specialise in providing Living Away From Home Allowance and Salary Packaging to white collar professionals.
Despite the term ”Allowance” LAFHA is a government based tax concession available to workers that have temporarily relocated for work purposes. LAFHA is not restricted to Australian citizens and many International 417, 462 and 457 visa holders (with valid working rights in Australia)can take advantage of the large tax concessionsworking through Unique Contractor Management.
The Living Away From Home Allowanceconcession is comprised of 2 main components:
Rental / Accommodation costs and Incidental costs or food and living expenses. Relocation and travel expenses can also be claimed, although these however are a generally a one off event. With the inclusion ofrent, Incidentals, relocation and travel expenses, as the tax free components. The cash in hand benefit is significant. “Let us do the math!”
In addition to providing LAFHA, Unique also provide an extensive Salary Packaging service.
Salary Packaging is a tax minimisation service where Unique take work related expenses and Fringe Benefit Tax exempt items to lower the taxable incomeincreasing cash in hand benefit. Unique’s Salary Packaging service is complimented by our partnership with an award winning motor vehicle leasing firm, a nationally recognised financial planning firm and numerous other high performing alliance partners. Initial consultations with our partners are confidential and at no cost to our business partners or employees.
Contractors who will benefit from our service are:
- Contractors that need a quick and easy start-up method.
- Contractors requiring professional insurances
- Contractors who require a cost-effective solution for short-term contracts.
- New Zealand Residents and Citizens working in Australia
- International workers operating in short term work assignments incl. 417 and 457 Visa holders
- Australian Residents and Citizens relocating for work purposes
- Contractors that want to have some of the benefits and advantages of operating through a limited company, without setting up their own.
- Contractors looking to engage in a Novated Lease or other Fringe Benefit Tax exempt items.
- Contractors looking for a reliable alternative to their current Contractor Management Company
- All Contractors earning in excess of $40 per hour looking to engage in tax minimisation strategies.