Boost Housing

If you reside or work in a designated remote area (check with your Boost Salary Packaging consultant) you may be eligible to salary package the cost of the:

• Rent for the home you are living in which is your usual place of residence
• Interest expense of the mortgage you have taken out to purchase the home you are living in which is your usual place of residence

What is a Remote Area Housing Benefit?

It is a tax concession designed by the Australian Federal Government to assist employers in rural and remote areas to attract and retain staff.
A remote area housing benefit is an exempt benefit under section 58Zc of the Fringe Benefit Tax Assessment Act 1986.

Am I eligible?

To be eligible for a remote area housing benefit all of the following conditions must be satisfied; namely:
a) For the whole of the tenancy period, the unit of accommodation is in a remote area (that is, it must not be located in or adjacent to an eligible urban area).

To be eligible for Remote Area Housing Benefit if you live in a remote area and work for an employer located in a remote area. A “remote area” is defined as “over 40 kilometers from a town with a population of 14,000 or more, and over 100kms from a town with a population of 130,000 or more” (ATO definition). A list of locations designated “remote area” is available by contacting Boost Salary Packaging (02) 8875 7955.

Advantages for employees

• The opportunity to reduce gross annual salary, leading to lower income tax and higher net salary
• Ability to use for either a mortgage or rental property (but the property must be a principle house of residence). Total flexibility for either option.
• Remote area housing program can also be applied to electricity of gas bills associated with principle house of residence.
• If company owned housing program the advantage includes 100% FBT free benefit
• If a private rental or reimbursement of interest from mortgage (50% FBT free benefit)

CONTACT US TODAY AND SEE HOW MUCH YOU CAN SAVE