25Oct2019

What Is A Fast Cash Loan?

October 25, 2019

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Once in awhile you need to catch up on your expenses, however, you don’t have an emergency fund. You might want to look into fast cash loans.

What is a fast cash loan?

A fast cash loan is essentially a cash advance. Based on your lender, your income, and your credit history — this type of loan differs.

Most credits being offered range from $100 to $2,000, sometimes it can reach up to $5,000. Expect a limited loan amount if you’re a first time borrower.

The Australian government is in charge of monitoring the fees and charges on this type of loan. You’ll be charged a 20% establishment fee and a 4% monthly fee for a $2,000 loan amount. Anything more than $2,000 can charge up to 48%.

For assessment, you have to submit the requirements and documentation, including your latest 3-month bank statement. Then, there’s the verdict!

Expect a short turnaround time in the whole fast cash loan application process as it’s mostly done online. Usually, the cash is credited directly into your bank account once you’re approved.

Fast cash loans in Australia

Fast cash loans in Australia can give you funds you need with a lesser repayment term. Included are establishment fee, monthly fee, and other charges depending on the agreed loan structure.

Cigno offers fast cash loan products that’s suitable for you. Repayments can be made in step with your payday cycle. Options are weekly or fortnightly, depending on your income. The calculated repayment amount is matched with your capacity to repay the loan.

It’s Cigno’s priority to make your repayments painless, easy, and predictable.

Apply now!

2Oct2019

Is Your Mechanic Ripping You Off?

October 2, 2019

Henry Mabana

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It has become common that unexpected extras added to your vehicle repair or service bills that you’d wonder if your mechanic is ripping you off.

Mechanics, officially called automotive service technicians, are often the “defendant” of complaints from customers who believe they’ve been overcharged or received subpar service.

A few pointers can help when dealing with a mechanic.

Don’t be scared of your mechanic

When he seriously throw you a line like, “It’s dangerous to drive away with your car in this condition.” You ask your mechanic why.

Make sure that the repair is completely necessary. They could be pressuring you to agree to an expensive service on the spot.

Shop around

If in doubt on a diagnosis for a repair, do the same thing – shop around for a second opinion and for the prices of the repairs. A third or fourth opinion wouldn’t hurt, either.

You could save hundreds, even thousands of dollars off your final bill with a bit of phone calls and enquiries to other mechanics.

Search online for forums and recommendations. You’ll definitely come across a similar situation to yours that could be valuable information.

Help to identify the problem

Identify when the problem started for a specific matter. Say, you hear a grinding noise when you turn. Does it happen when turning left or right? Or at certain speeds, or when going uphill, downhill?

This can ensure the problem gets solved as mechanics have a limited time to test your car before repairs.

Don’t skimp on cheap parts

You may be given cheaper options, but these will doesn’t match the capability of the original items. Cheap parts can easily cause an accident.

Schedule your service items

Your owner’s manual provides a list of routine service items against each service interval. Read the list beforehand and check for any surprise extras on the invoice as soon as you get it. Your mechanic should be able to explain and answer any question on the invoice.

There’s fine print on capped servicing

Many brands are starting to offer fixed-price or capped servicing. Read the fine print as these plans vary coverage and duration. Some will cover a fixed number of services, while others will cover the duration of your new-car warranty. There’s also capped-price servicers ‘upselling’ extras like higher grades of oil, adding to the final bill.

Some workshops are qualified to service your car without affecting your warranty. Ask for written proof they’re qualified to do a warranty-safe service.

No credit loans in Australia

Short on cash this month or in need of a financial boost — but you have a bad credit history or no credit history at all?

You can find yourself without a substantial credit history for all sorts of reasons.

At Cigno, you can apply online for loans — no credit via their quick application.

Cigno is a responsible lender and may ask you for other personal identification to ensure that you qualify. This may include:

Passport Number
Drivers Licence
Proof of Age card
Birth certificate, etc.

Note: Bank accounts must be in your name and cannot be for online savings accounts or online only accounts.

27Sep2019

Leasing vs Buying A Car

September 27, 2019

Henry Mabana

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Have you ever bought a new and shiny car only to be told you should have leased it instead? It can be hard to choose between buying or leasing a car — as both have their benefits and drawbacks.

It pays to have a proper understanding of all the available options if you’re in the market for a new car.

Car lease

A car lease is when a financier purchases a car and then lets you use it over a fixed period of time, where you pay a monthly fee. You need to make a residual or balloon payment at the end of the term if you want to own the car outright.

You should use the car for business more than 50% of the time.

You may also take an interest in another financial product called the novated lease. It’s an agreement involving an employer, an employee, and a finance company. Through salary packaging, the employee could use the car.

Car lease benefits

Car leasing offers both advantages and disadvantages, as with all financial products, which depend on your personal and financial circumstances. Here are some:

Budget-friendly — A consolidated monthly payment that includes maintenance could be a lifesaver for business owners with an unpredictable cash flow.
Less cash upfront — It only requires very little in terms of a deposit to set the ball rolling for a car lease. While others require nothing at all, some financiers require a month or two payments upfront.
New car benefits — Get the latest model and manufacturer’s warranty.
No obligation to purchase — There’s no obligation for you to make the residual payment and buy the vehicle at the end of the term. For start-ups with an uncertain future, this is particularly beneficial.

Car lease disadvantages

Lease conditions — These may include the wear and tear on the car or the number of kilometres you’re allowed to drive.
No modification — You’re unable to modify it in any way even if it’s for work-related purposes as you don’t own the car.
You don’t own it — In any case, you can’t list it as an asset because the car is not yours.

A car lease suits someone that uses the vehicle primarily for work. This includes tradies, business owners, and companies.

Leasing vs Buying A Car

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Buying a car

Assuming you understand that buying a car means paying cash and taking full ownership of it. You could also get a car loan and make monthly repayments that are unrelated to your use of the car.

The benefits of buying

Here are a few disadvantages to counterbalance the benefits of buying your car instantaneously:

Ownership — There’s no greater feeling than owning your vehicle.
It’s an asset — This is beneficial when you’re looking for a mortgage or borrowing for other reasons.
Car modification — Well, it’s your car! Want a new set of wheels or big stripe down the middle of the bonnet? Go ahead.
There’s no limit in driving — Drive the car as much as you like! It doesn’t need to be used for work-related purposes either.
Sell it if you want — If you decide you no longer need the car or you want to upgrade.

The disadvantages of buying

Higher initial costs — Generally, you will require a hefty deposit, even if you are borrowing money to buy the car.
Maintenance costs — Once the warranty is up, you are responsible for all maintenance costs. The following repairs will come out of your pocket.
Depreciation — A new car loses its value fast. You won’t have to worry about if you renew a lease and upgrade later on.
Limited choice — This means that you might not get that top of the range model that you want, as you may have to limit your spending when you buy.
It’s a hassle to sell — Some people prefer a hassle-free experience when changing cars. You need to negotiate a trade-in value or sell the car privately if you decide to upgrade.

Emergency loans in Australia

Do you need a fast and small fund?

Cigno Loans can help with their emergency loans, as well as bad credit loans — if you have a less than stellar credit history.

Once your application is approved, cash is moved into your bank account with repayments easily arranged.

Apply now, online!

18Sep2019

Top Tips To Help You Save Fuel

September 18, 2019

Henry Mabana

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These top and simple tips can help to make your car go further between refills.

Economical driving

Use less fuel around town:

Maintain a steady speed and drive smoothly.
Ease back on the accelerator once the car has gained speed when you drive an automatic.
Change car gears and use the gearbox rationally.
Avoid engine idling for too long.
Avoid heavy traffic and peak hour.

Use less fuel on the freeway:

Take 20 km/h off your speed to reduce fuel consumption by as much as 25%.
Use cruise control.
Lessen the use of your car’s AC. If you don’t have AC and travelling over about 50 km/h, keep the windows up and use the practical ventilation.
Use the economy mode to ensure the transmission up-shifts earlier if your car’s transmission has power and economy modes.

Note: All of the above is also for reducing wear and tear on your car’s tyres, brakes, and other mechanical parts — you’ll save on running costs too.

Use your car less

Using your car less is one of the best ways to cut fuel costs. You have other options, such as car pooling, public transport, riding a bike, or walking.

Combine smaller trips into one when you use your car. Several shorter trips will use more fuel than one longer trip.

Note: A cold engine is less fuel-efficient and emits more pollutants than a warm engine.

Car care

Regular car service keeps running costs down and helps save on fuel. Car care best practices include:

Correctly tuned engine
Keeping the fuel and ignition systems in good working order
Keeping filters in good condition
Regular engine oil change using the correct grade as recommended by the manufacturer.

Top Tips To Help You Save Fuel

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Correct tyres inflation

When your tyres are still cold, check the tyre pressure once a week.

Keep your tyres inflated to a pressure slightly higher than that stated in the vehicle handbook.

Setting the tyre pressure slightly higher will aid in fuel economy and safer handling.

Note: Suggested tyre pressure can be found on the tyre placard, inside the glove box, on the fuel filler flap, or on the driver’s door.

Wheel alignment

Make sure the wheel alignment is correctly set and the brakes aren’t dragging. Both of these can increase rolling resistance and use up more fuel.

Reduce weight

Hold on! We’re not body shaming you. This means reduce the amount of unnecessary weight in your car. Toolboxes, golf clubs, etc. add weight that increase fuel consumption.

External attachments (e.g. roof racks) will increase wind resistance and fuel use so, if possible, remove them when not in use. If used, load them carefully to minimise wind resistance.

Unsecured loans in Australia

Are you in need of quick loans? Does it have to be approved urgently — with no long wait times or paperwork?

Tell Cigno Loans how much you want to borrow. By analysing your bank statement, they’ll figure out what kind of loan is best suited to you (i.e. unsecured loans).

You will need to provide your bank statements for at least the last 90 days before you apply online.

Note: For a secure, quick, and easy process, use Credit Sense to upload your statement.

14Aug2019

How To Improve Your Credit Score

August 14, 2019

Henry Mabana

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A bad credit score can be a hurdle for you to get approved for a loan, as it shows on your credit report. Now, improving your credit score makes a double whop — but it’s doable.

Aside from the usual approach, like on-time bill payments, avoiding multiple loan applications, and cancelling unused credit cards, there are other ways to improve your credit score.

Getting approval is not guaranteed, however, here are some tips to better your score and keep it looking good.

Monitoring

Credit bureaus such as Experian, Equifax, and illion (formerly Dun & Bradstreet) can help you monitor by providing your credit report for free.

Your credit report shows all the positive or negative factors that contribute to your score. It gives you all the information you need that allows you to make it better. You can also fix errors on your credit file, such as discrepancies in your personal details (different address on two accounts).

Under soft pull check, specialist lenders can also evaluate your loan application. This way, lenders can have an overall idea of your financial status and it won’t go on your credit file. Otherwise, this could have a negative effect on your score.

Note: Credit score differs depending on the credit bureau.

How To Improve Your Credit Score

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Keep a consistent home address

It’d be harder for the lender to track you down — which would affect your score negatively, if you change your residence too often.

If you’re planning to make a loan application, you should stay in the same place for a few months.

Consolidation loan

There are financial institutions specialising with consolidation loan. Consolidation could be a better option if you have multiple debts. This way, you only have one loan to worry about.

This helps to boost your credit score as the quicker the principal could be paid off, the quicker you have to deal with the balance. There’s a tax break too!

So, clear those debts and avoid them in the future.

Bad credit loans in Australia

Having bad credit doesn’t have to be a permanent thing. Foreclosures, late payments, and even bankruptcies will fall off your reports after a certain amount of time.

The bottom line is that it’s possible to find lenders who will work with you and your bad credit.

Cigno is more understanding of your needs and circumstances.

Apply through Cigno today and they will act as your agent to help you with your bad credit loans application.

Take the step by simply completing the online application form. Click here to apply!

14Aug2019

Credit Score Myths BUSTED!

August 14, 2019

Henry Mabana

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Lenders look at your credit score to evaluate the potential risk of loaning you money — or simply put, your creditworthiness.

Rumour has it that the higher your score, the more financially trustworthy you are. Now, this has a probability to be true, but what about the other data we’re not so sure of.

You have to weed through different information if you want to improve your credit score. First, let’s weed out fiction from facts and bust these credit score myths!

Myth 1: If you’re not getting a loan, no need to know or check your credit score

Other than lenders, your utility companies, potential employers, and landlord also check your credit score — although, they have to ask for your consent beforehand.

It’s better to know your credit score for contingency in case you need to get a loan.

There could also be errors and defaults which can be listed unknowingly. Change in residence can be a reason for credit providers to lose track of you and not able to give notification of any outstanding bill.

Check your credit file regularly for discrepancies and fix them at once.

You can also have a better chance at the lowest interest rate by knowing your credit score early on.

Myth 2: There’s an effect if you check it all the time

Checking your own credit report, known as a soft enquiry (informal), doesn’t go on your record and doesn’t affect your score.

It is recommended that you review your credit file often to verify it’s content and fix any errors.

Myth 3: Good income equates good credit score

You have as good a chance at having a good credit score as anybody, whether you have a high salary or otherwise. Same as if you’re on a higher income and still not able to do repayments on time — which very much affects your score.

Credit Score Myths BUSTED!

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Myth 4: Good credit score stays good

Not paying your bills on time and not having credit at all can upset your good credit score.
Having a no credit report doesn’t always work for your loan application advantage. Lenders, based on your credit score, would want to know how you handle your repayments.

Although, after 5 years — 7 in case of a clearout, transactions vanish from your credit file. Bad and (even) good behaviour can disappear from your credit history, so you still have to be careful of getting bad credit.

Myth 5: You can’t get a loan if you have bad credit

The good news is there’s still a type of loan designed for those with bad credit.

With bad credit loans, the lender will assess your income and expenses to decide how much you can borrow — without credit checks.

Bad credit loans in Australia

In need of a financial boost this month — but you have a bad credit or no credit history at all?

You can find yourself without a substantial credit history for all sorts of reasons.

At Cigno, you can apply online for bad credit loans or loans — no credit via their quick application.

In observance of Responsible Preliminary Assessment, Cigno may ask you for your personal data, which may include:

bank statement
drivers licence
passport Number
proof of age card
birth certificate, etc.

Note: Bank accounts must be in your name and cannot be for online savings accounts or online only accounts.

2Aug2019

Get The Most Back From Your Tax Return!

August 2, 2019

Henry Mabana

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You’re entitled to claim deductions for some expenses when completing your tax return — most of which are work-related expenses.

Deductions you can claim

Work-related expenses

To claim a work-related deduction, you must have spent the money yourself and weren’t reimbursed. It must relate to earning your income and proven with a record.

You can only claim a deduction for the work-related portion if the expense was for both work and private purposes.

Note: Employees can claim work-related expenses in the financial year they are incurred.

You may be able to claim a deduction for expenses that directly relate to your work, including:

clothing, laundry, and dry-cleaning expenses — a uniform needs to be unique and distinctive to legitimately claim it’s cost.
home office expenses — costs could include your phone, computer, or other electronic devices, and running costs (e.g. internet service).
self-education expenses — the study should be related to your current job — claim expenses such as course fees, student union fees, textbooks, professional journals, and stationery.
tools, equipment and other assets — protective gear, sunglasses, hats, office equipment, safety equipment, and technical instruments.
vehicle and travel expenses — if you work in different locations or you use your car for work.

Get The Most Back From Your Tax Return!

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Other deductions

ATO interest (calculation and reporting)
interest charged by the ATO — imposed interest includes general interest charge (GIC), shortfall interest charge (SIC), and late payment interest.
cost of managing tax affairs — includes buying tax reference material, tax return preparation courses, lodging your tax return through a registered tax agent, etc.
gifts and donations — to organisations that are endorsed by the ATO as deductible gift recipients.
interest, dividend, and other investment income deductions
personal super contributions — if made during the year to a complying super fund or a retirement savings account (RSA).
undeducted purchase price (UPP) of a foreign pension or annuity — the UPP is the amount you contributed towards the purchase price of your pension or annuity – your personal contributions.

See Occupation and industry specific guides to find out more about income, allowances, and deductions you can claim for work-related expenses.

Managing your deductions

Keep your tax organised with the ATO app’s myDeductions tool.

Use myDeductions to keep records of your work, general expenses, income, and deductions to make lodging your tax return faster and easier.

Download the ATO app then select the myDeductions icon.

myDeductions tool - ATO app

Upload your completed records to the ATO from the myDeductions tool and pre-fill your myTax return. You can share your records directly (via email) if you use a registered tax agent.

Easy loans in Australia

If you need cash today for an urgent or unexpected expense, Cigno Loans can help with easy loans.

Cigno believes in a fair go and considers all applications — whether you’re working or on Centrelink!

Cigno offers a 24/7 online platform so you can apply anytime, anywhere, even on weekends!

11Jul2019

10 Easily Forgotten Monthly Expenses - Cigno Loans

10 Easily Forgotten Expenses

July 11, 2019

Henry Mabana

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According to a study, it appears most Australians can’t tell the exact amount they spend on expenses. As a result, they usually forget to include some into their budget. The following are the easily forgotten expenses on a regular basis.

1. Annual physical

We are supposed to have an annual physical and go to the dentist 2x a year for checkups and regular cleanings. There are other regular tests or preventative screenings you should also get, depending on your age.

2. Medication

The medication cost can really use up your budget if your family use a lot of medicines. The government has programs, such as the Pharmaceutical Benefits Scheme (PBS) and Medical Safety Nets, for help.

3. Haircuts

Men’s haircuts are way cheaper than women’s and can be had for $10-$20. Unless they’re maintaining a short hairstyle, women tend to pay more for a simple wash and trim. How much more depends on the style and extras.

4. Babysitter

You need a break from looking after your kids time and again. Babysitters are lifesavers that can keep you sane.

Typically, when you hire a babysitter, you want to treat them well as you’d like them to come back and sit for you repeatedly. You’re putting them in charge of your kid’s safety, so paying the right price for their service is essential.

5. Pet Care

Australia has one of the highest rates of pet ownership in the world. About 62% of Australian households own pets. There are an estimated 24 million, or more, pets in Australia.

Australians spend the most on:

dogs — estimated $1,475 each, annually
cats — estimated $1,029 each, annually.

This is on average, where some pets will cost more than others.

6. Car insurance & registration

All registered vehicles, except trailers, in Australia is required by law to a minimum insurance — the compulsory third party personal injury (CTP Greenslip) insurance. Every car with a current registration sticker has this insurance as vehicles cannot be registered without this certificate.

CTP insurance covers everyone involved in a motor vehicle accident for medical and disability costs that result from the accident — except the driver who caused the accident.

10 Easily Forgotten Expenses

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7. Oil change

Along with regular car inspection, do not forget to include oil change in your budget calendar. Before an oil change, most cars today can go much farther than 5,000 kilometres (or every 3 months). Usually, it’s between 8,000 and 12,000 kilometres, or up to 16,000 kilometres.

Some newer vehicles have oil monitoring systems to remind you when it’s time to change your oil. You can check your car’s owners manual for recommendation from the manufacturer.

8. HVAC maintenance

Maintaining your heating, ventilation, and air conditioning (HVAC) should be a regular thing. With extreme temperatures these days, a preventative maintenance schedule is essential for all HVAC equipment. Work this into your budget in spring or fall.

9. Pest prevention

Pest prevention is easier than cure. Controlling pests and preventing their return needs knowledge as well as great products. Look for professional solutions for your pest control or search for DIY tips and guides online.

10. Taxes

Don’t let taxes sneak up on you, whether you’re a business owner or a freelancer. Always set aside for your taxes from your salary each month. Use a registered tax agent when lodging your tax return and skip the stress.

Unsecured loans in Australia

Are you in need of quick loans? Does it have to be approved urgently — with no long wait times or paperwork?

Tell Cigno Loans how much you want to borrow. By analysing your bank statement, they’ll figure out what kind of loan is best suited to you (i.e. unsecured loans, or emergency loans).

You will need to provide your bank statements for at least the last 90 days before you apply online.

Note: Use Credit Sense to upload your statement. It’s secure, quick, and easy!

1Jul2019

New Rules About Your Payment Summary (Group Certificate) - Cigno Loans

New Rules On Your Payment Summary (Group Certificate)

July 1, 2019

Henry Mabana

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Employers have to give employees a summary of their income for the past year at the end of each financial year (EOFY). This is ‘payment summary’, also known as ‘group certificate’ or ‘pay as you go (PAYG) payment summary’.

Payment summaries are required by the Australian Taxation Office (ATO) for record-keeping.

Currently, payment summaries are required to be issued to employees by 14 July — covering earnings in the previous year to 30 June.

The employer should lodge the information with the Tax Office, which allows the release of electronic information to myTax for taxpayers who lodge their own tax return online.

Those without a tax agent have to lodge their tax returns on or before the 31 October. Otherwise, most registered tax agents have a special lodgment program and can lodge returns for their clients after the usual October 31 deadline.

Part-year payment summaries

Employee leaving before the end of the financial year (30 June) may request a part-year payment summary be issued before the deadline (14 July).

The request must be in writing and made before 9 June, 21 days before the EOFY.

Employer has to provide the payment summary within 14 days, unless the employee has received a reportable fringe benefit — calculated at the end of the fringe benefits tax (FBT) year (31 March).

New rules on payment summaries

The way you get your payment summary is changing. Depending on how your employer reports your income, tax, and super information to ATO, you will be provided with either:

Income statement — if employers report their employees’ income, tax, and super information through Single Touch Payroll (STP), they are no longer required to give payment summaries to employees. This information will be made available through ATO online services via myGov and finalised by 31 July.
Payment summary — employers will continue to provide payment summaries by 14 July if they haven’t adopted the STP reporting system yet.

Chase up your employer if you haven’t received your payment summary by the due date, as advised by the Tax Office.

New Rules On Your Payment Summary (Group Certificate)

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Single Touch Payroll

Single Touch Payroll works by sending tax and super information from the accounting or payroll software to the ATO. STP reporting is currently available through accounting, payroll, and business management software. STP-enabled products are now offered by most software providers.

Most employers are now required to report your income, tax, and super information directly to ATO each payday via STP — which will phase out payment summaries.

STP applies to employers who have:

at least 20 employees (required to adopt from 1 July 2018)
19 or less employees (required to adopt from 1 July 2019).

All employers will eventually adopt the STP reporting system, so all your relevant information can be found in one place. Tax agents will also have online access to this information.

No credit loans in Australia

Short on cash this month or in need of a financial boost — but you have a bad credit history or no credit history at all?

You can find yourself without a substantial credit history for all sorts of reasons.

At Cigno, you can apply online for loans — no credit or bad credit loans via their quick application.

Cigno is a responsible lender and may ask you for other personal identification to ensure that you qualify. This may include:

Passport Number
Drivers Licence
Proof of Age card
Birth certificate, etc.

Note: Bank Accounts must be in your name and cannot be for online savings accounts or online only accounts.

23Jun2019

Salary Sacrifice: What Is It And How Does It Work?

June 23, 2019

Henry Mabana

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A salary sacrifice arrangement (salary packaging or total remuneration packaging) is an arrangement between employer and employee — the employee agrees to forgo part of his future entitlement to salary or wages. In return, the employer provides the employee with benefits of the same value.

Salary sacrifice reduces your taxable income and the amount of tax you pay.

Seek financial advice before entering into this arrangement as it’s effectiveness depends on your financial situation.

Note: Before you start the work, set up the arrangement with your employer. It may be ineffective if it’s not put into place until after you have performed the work.

Employer and employee’s agreement

You can renegotiate a salary sacrifice arrangement. Employees can renegotiate amounts of wages or salary to be sacrificed before the start of their renewable contract — subject to the terms of any employment contract or industrial agreement.

Your employment contract may vary depending on the agreement between you and your employer. Although it can be verbal, it’s better to have an agreement in writing. It’s hard to establish the facts of your salary sacrifice arrangement if it’s undocumented.

Salary sacrifice contributions are considered to be from the employer, who’s only required to meet 9.5% super guarantee obligation.

If you choose to salary sacrifice 5% into your super, your employer would only have to contribute 4.5%. Although, if you choose 9.5% or more into your super, your employer would not be required to make any additional contributions.

The terms of the agreement should be in place to ensure your employer still pays you the 9.5% super guarantee.

Salary Sacrifice: What Is It And How Does It Work?

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Benefits provided in salary sacrifice arrangements

Generally, the types of benefits provided in salary sacrifice arrangements by employers include:

Fringe benefits — cars, property, expense payments
Exempt benefits — a briefcase, a portable electronic device, a tool of trade, and other work-related items
Super — salary sacrificed super contributions (taxed at 15%) are considered as employer super contributions. This reduces the superannuation to be paid by your employer when meeting their super obligations.

Implications of a salary sacrifice arrangement

Be mindful of the implications of the salary sacrifice arrangement on you and your employer. This may affect the following:

Super guarantee — your employer is required to only meet their 9.5% super guarantee obligation.
Assessable income — less income tax liability for you
Fringe benefits tax — your employer should pay the fringe benefits tax.
Deductible expense — your employer will not have to pay fringe benefits tax (FBT) if they pay for an expense, which you would normally get a tax deduction for.
Super — your earnings base may be reduced.
Reportable fringe benefits — you will need to show this amount on your tax return.

Quick loans from Cigno

If you’re under a salary sacrifice arrangement, your income may not suffice for now. You may find your cash won’t suffice to cover the bills.

You can apply for quick loans online in Australia.

With Cigno Loans, you can get up to $1000 paid directly into your account. The online application makes the process fast and simple. Hence, fast turnaround time and approval for borrowers with urgent needs.

Compared with competitors, Cigno can help you to apply for quick loans, which can be repaid over a lesser time period.

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