Salary Package Your Mortgage Repayments with Remunerator

Eligible employees can salary package your mortgage repayments, allowing you to pay for your home loan from pre-tax salary. This reduces your taxable income and increases your take-home pay.

What is Mortgage Repayment Salary Packaging?

Mortgage repayment salary packaging allows eligible employees to pay for their home loan repayments from their pre-tax salary. This reduces taxable income, leading to potential tax savings and increased take-home pay.

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 for your industry sector, per FBT year.

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Package Requirements

Mortgage repayments can form part of, or your entire threshold amount for General Expenses per FBT year.

The FBT year runs 1st April 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.

Substantiation

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

Payment Options

Paid Directly to Loan Account

A deduction is made from your pre-tax income and paid directly to your loan account. This option is ideal for those people who have line of credit loans.

Evidence Required

Mandatory:

Copy of loan statement showing loan balance, BSB and account number

Direct Debit From Bank Account

Evidence Required

Copy of savings account statement showing debits only required if benefit is to be paid into savings account.

Reimbursement to Bank Account

A deduction is made from your pre-tax income and paid directly to your nominated bank account. This option is ideal for those people who have a direct debit arrangement already in place to make mortgage payments, and don't wish to alter it.

Submit Your Claims For Reimbursement

Evidence Required

A copy of the receipt at the time of claim; or
Copies of receipts for payments made in the last 12 months; or
A copy of bank statement showing mortgage repayments.