Mortgage Repayments | Remunerator

Save On Your 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 for your industry sector, per FBT year.

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.

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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

Login to your statements area and submit your claims online, together with required substantiation.

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.