MyCardPlus equips employees of certain industries, with payment cards to easily pay for their salary packaged items.
Payments can be made with all the convenience of a normal credit card, except it’s using pre-tax dollars!
If you are unsure of your eligibility, we advise contacting your employer to find out more about their benefit options.
Salary Packaging allows employees, in certain industries, to pay for certain expenses with pretax dollars from their salary, meaning they could significantly lower their taxable income and increase take-home pay.
It works by having part of your salary deducted ‘pre-tax’ through your employer’s payroll, and sent to your salary packaging provider to make payments on your behalf.
Your remaining salary is taxed at a reduced amount, providing you with a higher take home pay and therefore more in your pocket!