Payroll tax reduction
for mining giant
Thanks to novated leasing.
One of the largest gold producers in the world had an employee benefit that was more trouble than it was worth – novated leasing. Only 40 employees had salary packaged their cars and even with that low number, the issues were significant enough for them to stop promoting the benefit.
A custom solution was developed, and then car salary packaging was re-launched to the business with a national communications campaign. This was followed up with information and education sessions in remote locations. Employees were wary to begin with, however concerns were quickly addressed.
The most successful employee benefit the business has ever offered.
Within three years the number of novated leases in the organisation more than tripled, and it’s still on the rise.
Payroll tax reduced by $270,000
The company’s payroll tax liabilities reduced by almost $270,000, and workers’ compensation premiums by more than $60,000.
Employees net tax benefit $2,700,000
$2,700,000 in net tax benefits was delivered to employees – all at zero cost to the business.