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Mortgage Interest

Reduce Your Taxable Income by Salary Packaging Mortgage Interest

If you're an eligible employee in a remote area, you can salary package the interest paid on your home loan, potentially reducing your taxable income and increasing your take-home pay. This benefit is available under the Remote Area Housing Benefit, allowing you to package 50% of your mortgage interest payments.  

Save On Your Mortgage Interest

You can salary package the interest you pay on your mortgage for the house you live in, in a remote area.

If you qualify for the remote area housing benefit, only 50% of the interest paid on your mortgage (not principal) is used in calculating the limit.

The home must be where you are living and not an investment property.

Package Requirements

The full amount of mortgage interest payments are added to your package, 50% of this is tax free, the other 50% attracts FBT.

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Who is Eligible For This Benefit?

This benefit is available to employees living in remote areas who meet the eligibility criteria under the Remote Area Housing Benefit. 

Your home must be your primary residence, and only the interest portion of your mortgage qualifies.

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