Salary Packaging

Mortgage Repayments Mortgage Repayments

Mortgage Repayments including normal home loans (principal & interest), interest only home loans, home loans with redraw facilities and other loans that cover the financing of your home, can be included in your salary package up-to the threshold limit (capped) for your industry sector, per fringe benefits tax (FBT) year.

Package Requirements

  • Mortgage repayments can form part of, or your entire threshold amount for General Expenses per fringe benefits tax (FBT) year.
  • The FBT Year begins 1st April and runs to 31st March each year. Employees beginning their package part way through an FBT year can still access their entire threshold.
  • Where the payment is not made directly to the loan account the amount to package cannot exceed the loan repayment amount.
  • The loan does not have to be solely in your name.

Investment or Business loans cannot typically be included in a salary package.

Process and Payment Options

Select Mortgage Repayements, the amount you would like to package and your preferred packaging / payment option.

You need to provide substantiation when applying to package this  benefit, depending on how your Mortgage is paid or how your payment is to be reimbursed, ie:

  • If payment required direct to your loan account
  • If you pay your Mortgage by Direct Debit from your bank account  

Substantiation

Mortgage Repayments FAQs