Welcome to our October newsletter

Hello Salary Packagers

We’ve recently had some great feedback from our clients, and also had some new clients introduced to us, which reminded me of the value of the partnerships we form with our clients and their teams.

If you know of a business that is not satisfied with their current salary packaging or novated lease provider, we’d be very happy to be introduced and see if we can assist.

In this newsletter we’ll share details about some of the best car deals available currently, our salary packaging card provider - EML, estate planning, family trusts, and a deep dive into our Prosperity car buying service with Darren Lewis speaking in a recent Prosperity podcast. We have also included recent podcasts on the outcomes of the federal budget as well as an update on the global economy.

Regards

Mark Welsh
National Employee Benefits Manager

Save thousands of dollars with Prosperity Smart Drive

Prosperity Smart Drive continue to save thousands of dollars for our Not for Profit, Sole Trader and ABN holder clients.

Check out some of our recent savings. If you are in the market for a car, drive your dollar further by calling us on 1300 761 388.

Introducing our salary packaging card provider

A number of our clients are in the process of transitioning employee salary packaging cards to our provider EML, following the termination of Bendigo Bank’s salary packaging card product. Our team have been working hard to ensure there is minimal impact to card holders during this transition.

The EML Salary Packaging Mastercard is a combined, general living expenses and meal entertainment card where if you utilise both facilities, the card determines whether your spend is meal entertainment, or general living expenses, through using the merchant ID at the point of sale. This means it is possible to use just the one card for all of your salary packaging. And you don’t actually need to carry a physical card, with the ability to link to Apple Pay, Google Pay or Samsung Pay digital wallets.

We have lots of options available to you when it comes to salary packaging, and reimbursements or direct payments for recurring expenses such as mortgage payments, rent, and personal loans.

If you like the idea of the flexibility of the EML Salary Packaging Mastercard, and would like more information on the salary packaging options available to you, touch base with our team on the details below.

Phone 1300 761 388
Email sp@prosperity.com.au

Estate Planning for a blended family

Often in the process of organising their new life together, a new couple involved may lose track of the importance of preparing an estate plan to reflect their changed circumstances. Prosperity Director and Financial Adviser Gary Dean shares below an example where two families have come together later in life and need to organise their estate planning to reflect their wishes.

An ATO alarm bell: Is the taxman about to menace your family trust?

Before the ATO announcements, the use of family trusts to manage and protect a family’s overall wealth was settled practice for Australian businesses and their family owners. Prosperity Director of Taxation Paula Tallon discusses why you should review your family trust arrangements now.

Federal Budget 2022-23

Treasurer Jim Chalmers delivered his first budget with a focus on what’s responsible, affordable, and sustainable. The key selling points are cost of living relief, targeting investments, and repairing the budget.
The tax team at Prosperity have pulled together the main highlights below.

Listen to the Your Prosperity Podcast

Our podcast features Prosperity specialists and guest speakers discussing important topics to help you as an individual or business build a stronger financial future.