Case Study: How a travelling IT Contractor increased his salary by 17.5%
Challenge
Richard Hamilton, a professional IT contractor traveling between Melbourne and Sydney fortnightly, was incurring high expenses for dual accommodation, travel costs, and business expenses. He needed more frequent payroll, expense claims, dual living compensation, salary packaging, superannuation maximization, and increased net income.
Solution
SDP provided tailored salary packaging service for work-related expenses, associated lease arrangement for his paid-off car, tax-free travel allowances, free tax advice, legal tax minimizing strategies, fortnightly payment schedule, simple expense management, and complete contractor management at competitive pricing.
Results
The contractor's net income increased by 17.5%, lifestyle expenses were paid from gross instead of net income, and an additional $12,350 was contributed to superannuation through salary packaging.