2023-12-15 - 💰 Salary Sacrifice - Electronic Devices - Chewing the Fat 📈

[bradystroud]

Hey SSWers,

Lets talk about Salary Sacrifice!
https://ssw.com.au/rules/salary-sacrifice-electronic-devices/

[camillars]

great video and explanation from Stephan, and also great to see there’s now an option for people to request a skin too and spread our branding (especially SophieBot)! 💖😍

[leehawkinsssw]

A good (and simple) explanation of the benefits of salary sacrificing.

Stephan's debut on the SSW stage was excellent, well done @stephanfakossw 👏

[Calinator444]

I like the idea, but what if you salary sacrifice a device and then leave the company? Wouldn't it be a little strange having the logo of a former employer on your device?

[leahy268]

You can just rip them off. Might need an alcohol wipe to get rid of the last of the residue. However the bonus is that they protect the top of your laptop from scratches so it will look brand new

[AlexRothwell]

Very well explained, including the eligible devices and why an employer might offer salary sacrificing on some devices (they're FBT exempt)

[JimmyChenSSW]

Hi Alex. because only certain devices are exempt from FBT as per ATO, means there are no extra cost and admin. You can do some research on FBT to understand the defination.

[jakebayliss]

This video is 1 month too late... :(

[jeoffreyfischer]

I'm not an accountant, but at 1:07, 100k-26k=74k, not 76k 🤔
But again, I'm not an accountant 🫠

[AntPolkanov]

Everyone would love such math to be applied to them 🙂

[stephanfakossw]

I wished that too 😊💰
Thanks, we're fixing the typo...

[2fernandez]

❤️ Awesome explanation by Stephan with very clear audio

Would I Salary Sacrifice?
Not for a $5000 device.

[wicksipedia]

why not?

[jernejk]

$5000 is just an example. You can buy a device for just $1000 or even less. :)

Laptops are just this expensive if you want a workhorse that can handle any client's work. (or if you want a good Macbook Pro)

[MarcusIrmscherSSW]

Nice job Stephan 😀

[BenDunkerleySSW]

A once confusing topic made much clearer, definitely a rule + video many people will be referring to in the future 😄

[apforsyth]

great explanation Stephan!

[AntPolkanov]

Love the video. Love salary sacrifice.
Should start using it!

[zacharykeeping]

Great video - very easy to understand.

[leahy268]

Nice easy to understand video @stephanfakossw. Look forward to seeing more of this. Great way to get dry accounting topics through.

[cvionnet]

Great video, Stephan👍!
It's really helpful for better understanding the concept of salary sacrifice.
Just wondering, are there any cons?

[stephanfakossw]

Not that I can think of mate... However, there are limits on what you can salary sacrifice and how many times.

[YalalCakirSSW]

Great video @stephanfakossw !
Thanks to him, I learned this yesterday and when I saw the video, I understood even better. Good examples.

[Aibono1225]

Very clear explanation! It would be super cool if we have it in China 😭

[jimmidier]

Great video, nice done Stephan. But I wonder how it works in China

[sylhuang]

Love the video and clear explanation! Hope we could get something similar in Hangzhou Office 😋

[tino-liu]

Bummer China doesn't get this perk :( But cool video!

[danielmackay]

Didn't know we could salary sacrifice a smart-watch. Wish I had have known that 1 month ago... 😢

[AnkyChe]

Nice video, both the explanation and calculation are very clear. Hope we can figure out a way for Chinese employees to get this perk.

[KristenHu]

Awesome rule, but when will we have it in Hangzhou office🥺

[joshbermanssw]

Heard about it before but never knew entirely what it was. Great Explanation!

[kenzengssw]

Great video! The rule is really beneficial. Unfortunately, as an intern, I won’t be able to participate in this perk😩.

[BrookJeynes]

Great video @stephanfakossw, very clear explanations

[TobyChurches]

Great explanation and example! Ill be sure to take full advantage of this now 💡

[babakamyljanovssw]

Great video and explanation, looking forward that it would be applicable to Hangzhou office too.

[matt-goldman]

Fantastic video, thanks Stephan!

[JackDuan123]

Sorry for missing this one, Salary sacrifice is pretty awesome, but I think there are 2 points that needs to be considered or addressed:

1. If we don't buy anything, we still get more cash back, so that's why doing salary sacrifice annually might not be the best financial option, or there are better ways to spend your money.
2. You can, sell that for some money, but it's also some work to do, is it really worth the time? Or, in other word, there should be better way to spend time

I will only use Salary sacrifice when I really need new devices.

[wingy3181]

how does single touch payroll impact this?
My gross salary inclusive of the deduction is now reported to the ATO
so feels like i lose the benefit of salary sacrificing