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Guest Ryan T. Lion

Quick LAFHA question - JOB OFFER!

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    Guest Ryan T. Lion

    Hi all.

     

    Really love this forum, been a great help to us over the last few weeks.

     

    This morning I received a job offer from a company in Adelaide! ;)

     

    The earnings part is broken down and is confusing me somewhat. I won't go into details of my potential salary but is there anyone on here that could tell me how LAFHA really works???

     

    As I understand it, I have been made an offer totalling $xxx,xxx dollars. The offer goes on to say that I'll be entitled to a LAFHA accommodation allowance of $16,900 and a food allowance of $14,924 which my salary is reduced by, now coming in at $xx,xxx.

     

    Am I right in thinking that I pay tax on the lower amount, and the rest is made up of LAFHA allowance which is NOT taxed? So I am getting $31,824 of my salary tax free?

     

    Once LAFHA is deducted, my taxable income puts me in the $4650 + 30c/$ bracket, so I'll be "better off" by 30% of $31,824, right? So 'cash in hand' LAFHA is worth $9,547 per annum to me.

     

    Anyone been through all this that can broadly let me know if broadly this is how is broadly works? :eek:

     

    Me and the family are incredibly excited about all this - as you can understand.

     

    Once I get to the bones of what the offer actually means, you'll be hearing a lot more from me! oh yes :D

     

    RTL

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    Guest MADTOM

    Yes Thats it! LAFHA really is good to have. Unfortunately not all Companies do it.

    Congratulations on your job offer so happy for you.

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    Guest Ryan T. Lion

    Thanks for your reply - that's helped - cheers.

     

    Your hubby knows me - please could you ask him to PM me? Or if that's you Steve, can you PM me?

     

    All will be made clear.

     

    :D

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