Salary Guide and Employment Insights in Australia 2013

nfronda

@nfronda thanks for sharing it is really informative and thanks sa tips ;-)

Ur very much welcome po.. So pag ung mpasukan mong company my ganitong benefit, grab m na agad.. laki ng matitipid m d2..

legato09

@nfronda thanks for sharing it is really informative and thanks sa tips ;-)

Ur very much welcome po.. So pag ung mpasukan mong company my ganitong benefit, grab m na agad.. laki ng matitipid m d2..

for example po couple kayo sa isang household, and kung pareho meron ganyang benefit puede kayo pareho kumuha?

nfronda

@legato09.. I'm not really sure of that.. But sa plagay q pwde un ksi benefit nyo un ehh..

legato09

Noted po @nfronda.

meron din po mga mga mandatory benefits and kung ano dapat yung mga basic na kasama sa package? Pasensya na po, I have totally no idea ;-)

nfronda

@legato09..Wla po, pwde kang mag choose kung anu ung gus2 mong isama sa package.. So it's up to u yan.. But sabi ni @nadine my maximum amount lg dw na pwde ma salary package un ung hndi q alam kung mgkano..

At depende sa company yan.. Merung company na my salary package na benefit, but ang pwde m lg ma salary package is car.. Lalo na ung mga private companies, limited lg ung included nla sa salary packaging.. Check this site..https://www.epacsalarysolutions.com/Public/default.aspx

legato09

@legato09..Wla po, pwde kang mag choose kung anu ung gus2 mong isama sa package.. So it's up to u yan.. But sabi ni @nadine my maximum amount lg dw na pwde ma salary package un ung hndi q alam kung mgkano..

At depende sa company yan.. Merung company na my salary package na benefit, but ang pwde m lg ma salary package is car.. Lalo na ung mga private companies, limited lg ung included nla sa salary packaging.. Check this site..https://www.epacsalarysolutions.com/Public/default.aspx

Thanks po sa link, markup ko na sa favorites ko ;-)

Nadine

@nfronda, galing ng explanation mo! Took me 2 months lang at nag decide na agad ako mag salary package. Sa ospital namin, we have to speak to a financial adviser bago makapag salary package. Kasi, according to her, some people may not really understand what it's all about. At may mga tao din na hindi nakikita yung advantage. Lalo na pag wala ka naman tax binabayaran talaga dahil nasa income threshold ka. So, getting salary packaging may not be beneficial for you. Pero sabi niya pag may rental ka, may mortgage, may kotseng binabayaran at kumakain sa labas... at binigyan ka ng ganitong benefit, grab mo na talaga.

@peach17: Etong tax threshold, eto yung wala ka binabayarang tax. Ang alam ko dati $18k lang. Pero 20k na daw. This is the table I have (pero baka may updates na nito):

0-18k: NIL tax
18001 - 37000: 19c for every dollar > 18k
37001 - 80000: 3,572 + 32.5c each dollar > $37000
80001 - 180000: 17547 + 37c for each dollar > 80000
> 180,000: 54,547 + 47c each for each dollar > 180,000.

So, let's say, sweldo mo, $81,000, luging-lugi di ba. $1,000 na lang, bababa na ang tax bracket mo, at iba na ang tax mo!. So dito pumapasok ang salary packaging. Ang taxable income bumababa pag naka salary package ka. So, iba na tax bracket mo. Bumababa din binabayarang tax! Kaya kung pwede ipasok lahat na pwedeng ipasok as salary packaging, go! Car, house, food, travel, flights. Kaya nga nakapagtanong ako kay @nfronda kung ano pa pwede. Baka naman may maisingit pa. Ang diasadvantage nakikita ko is only if wala ka makuha advantage from availing. Like, kung wala naman tax binabayaran in the first place.

@legato09: technically, kung sino yung may benefit, siya lang pwede makakuha syempre. Pero kung dalawa kayo, even better. Individual benefit yan. So. Kunyari, rental niyo in a fortnight is $900. Salary packaging mo ang pwede ay $450 lang in a fortnight. At si misis ay $300 lang ang salary packaging sa rental. She can claim hers and you can claim yours, I believe. So, sa $900 na rental niyo, $100 lang ang taxed. Yung $800, no tax.

Pero kung ang isa lang ang may salary packaging, may max amount kasi na pwede sa rental. Yun lang talaga. PERO walang max amount sa kain sa labas. So, kahit buong angkan mo pa kumain sa labas, basta sayo nakapangalan ang account ng magbabayad, walang magtatanong niyan. Also, kung magbakasyon kayong pamilya kahit pa sa Boracay or Timbuktu, basta sa pangalan mo ang lahat ng bills, pati flights at pagkain, pwede mo yan claim as salary packaging. Walang max sa entertainment at recreation.

BUT, iba-iba kumpanya, iba-iba ang salary packaging offers. So, it is still an option kung gusto mo ba yung offer nila. It is an added benefit, and therefore you can opt no to avail.

nfronda

@Nadine..Yes kmi din my financial adviser.. And after a yr nag consult aq sa knya in which dun q naintindhan ang benefits ng salary packaging that's y I grab it immediately.. And also I found it then na after a yr pla pwde kong mkuha lahat ng tax q or almost 90% ng tax q ksi low income na aq..

Kaya ang gnagawa namin ngaun kasi family of 9 na kmi d2, shoulder q ung grocery namin weekly, den ngbabayad lg cla sakin.. Which is lugi cla, ang bnabayad q no tax, ang bnabayad nla sakn with tax.. :-))

Nadine

May PM ako sayo.

peach17

sis @Nadine, may option ba ang bawat employee to choose kung isasalary package or not?
based sa nabasa ko from your message above, better kung mag sasalary package para mas mababa ang tax. tama ba sis?

yung sinasabi mo ba na tax threshold na $20K, annually yun sis? pag $20K or less ang sweldo, tax free na?

@peach17 makikisagot aq ha.. Yes my option ung mga employer, katulad q..dati kasi hndi q maintindhan ang salaray packaging den after a year naging malinaw na sakn so I choose na na mag salary package. Ang salary packaging ay isa sa pnkamgandang benefits na binbgay ng isang company.. Pro hndi lahat ng company merun nito, limited lg.. Pag nag salary package ka kasi mababa ung tax na bnbayad m.. this is just for an example lg ha.. Pra malinaw..

No salary packaging:
Pay/fortnight:$2000
less tax (20%): $400
Take home pay: $1600

With salary packaging:
Pay/fortnight: $2000
Less salary package: $1000
Pay less of salary package: $1000
less tax (7%) :$70
Take home: $930

Kung makikta m mbaba lg ang take home pay m pag nag salary package ka, but ung $1000 na nisalary package m ay pwde mong gamitin byad sa rent, byad sa hotel..depende kung anu ung included m sa salary package m.. So kung e susum up m tlgag lahat pag nag salary package ka sa $2000 m na pay, ang nkukuha m is $1930 ksi ung tax m is $70 lg.. So sobrang laki tlga ang matitipd m..

Ang dis advantage lg d2 ay hndi m pwde ma withraw.. So gamitin m tlga..

Hope malinaw na..

thank you so much sa explanation @nfronda... totally wala talaga kami idea sa salary packaging. buti na lang at napadaan dito sa forum na to and glad andyan kayo to help

question ko lang pala, ano yung ibig mo sabihin hindi pwede withdrawhin? Paano po makukuha yung $1000 (sa example sa taas) na nakasalary package?

saka po if in case na isama ang Car sa salary packaging, paano din po makukuha yung $1000 na pambayad sa car?

TasBurrfoot

@peach17 - if I may...

The example above ni @nfronda, what she meant by hindi ma withdraw is that hindi mo sya pwede magamit in any other ways apart from the things included in your salary package; for instance...

If sa Company X, ang allowed lang na kasama sa salary package are as follows: (1) monthly amortization (2) car expense, (3) gasoline, and (4) car repair; dito mo lang pwede gamitin ang allotted budget mo na $1K per month...

SO FOR EXAMPLE; ikaw after all the expenses for the 4 items above, meron ka pa excess na $400 (for example lang...); hindi mo ito pwede ma withdraw... Dapat talaga ito gastusin for the purposes stipulated sa salary packaging benefits mo.

The monthly amortization for the car will be taken cared of by the agent in charge of your novated lease, they will automatically deduct your monthly amortization from your monthly salary packaging budget... Anything in excess of this, pwede mo gamitin sa mga iba't ibang bagay na kasama sa salary packaging mo...

Hope this helps!

Nadine

Technically, pag naka salary packaging, kung yung amount naka salary package, dapat dun lang mapunta di ba.

BUT, pag nasa account mo na ulit yung pera, who's to say kung saan mo gamitin? UNLESS direct debit, the money stays with you anyway.

For example, direct debit ko $100 every fortnight to my meal card. Yung meal card, for meals lang talaga. Di ko magagamit ang $100 for anything else. I decided lang to put $100, it's up to you naman eh. Sinubukan ko lang $100. May choice ka babaan kung tingin mo sobra pala. At mababalik naman pag hindi mo nagamit. I think ganito din ang ang novated car lease. Direct debit from your salary to the car agent/company.

Pero for my rental, it doesn't go to my landlord. Bumabalik lang sa bank account ko. So, I have lee-way to move the money around, ika nga. For example, if bayad mo na 3-months rental, may extra ka na. Kasi hindi sa landlord mapupunta. Mga vacation reibursements, flights, work-related, etc., binabalik lang ang money sa bank account mo. Untaxed.

So actually, magagamit mo pa rin pera mo kasi nasa bank account mo yan. At the end of the day, the difference lang talaga, is not getting taxed for it.

TasBurrfoot

Technically, pag naka salary packaging, kung yung amount naka salary package, dapat dun lang mapunta di ba.

BUT, pag nasa account mo na ulit yung pera, who's to say kung saan mo gamitin UNLESS direct debit?

For example, direct debit ko $100 every fortnight to my meal card. Yung meal card, for meals lang talaga. Di ko magagamit ang $100 for anything else. I decided lang to put $100, it's up to you naman eh. I think ganito din ang ang novated car lease. Direct debit from your salary to the car agent/company. Pero for my rental, it doesn't got to my landlord. Bumabalik lang sa bank account ko. So, I have lee-way to move the money around, ika nga. Mga vacation reibursements, flights, work-related, etc., binabalik lang ang money sa bank account mo. Untaxed.

At the end of the day, the difference lang talaga, is not getting taxed for it.

Right... So meron din pala loopholes itong system na ito; ayus ah!!

Pero the fact that rental is included sa salary packaging mo is a very big deal na... Assuming 1K per month ang rent so that makes it 12K per annum = 12K at 32.5% is $3,900 is tax savings dahil rental mo came from pre-taxed amount...

WOW!!

Nadine

Totoo yan @tasburrfoot!

Can't get my head around iba na pala pangalan mo. hehe. Peace bro.

Seriously, kaya na-gets ko sinasabi nung financial adviser eh. Yung payslip mo, parang lumiit salary mo. Pero actually, hindi naman. Bumabalik sa bank account mo yun, Naka save ka sa tax talaga. Lalo mahal dito ang rental. Mahal ang pagkain pati. Tsaka laking bagay if uuwi ka sa Pinas at buong pamilya mo kasama mo. Flights, vacation hotels, pagkain, pwede yan salary package. No tax for that. Ang laking tulong niyan promise. Dahil mahal umuuwi sa atin.

TasBurrfoot

Totoo yan @tasburrfoot!

Can't get my head around iba na pala pangalan mo. hehe. Peace bro.

Seriously, kaya na-gets ko sinasabi nung financial adviser eh. Yung payslip mo, parang lumiit salary mo. Pero actually, hindi naman. Bumabalik sa bank account mo yun, Naka save ka sa tax talaga. Lalo mahal dito ang rental. Mahal ang pagkain pati. Tsaka laking bagay if uuwi ka sa Pinas at buong pamilya mo kasama mo. Flights, vacation hotels, pagkain, pwede yan salary package. No tax for that. Ang laking tulong niyan promise. Dahil mahal umuuwi sa atin.

If there is a salary sacrifice package (lalo na kapag included ang rent and groceries...); GRAB IT...

THIS IS A NO BRAINER!!

Good weekend to yah @Nadine

Nadine

And to you too! Superannuation can be salary packaged din pala. Pero type ko talaga na pati flights and vacation, pwede.

One last thing though. May nakapagtanong dito eh kung ano downside. I'm not too sure, pero I think (personal opinion), if wala naman ikaw binabayarang tax in the first place, this setup wouldn't work. Hindi ko pa alam ano iba disadvantages. But I suppose, it certainly doesn't work for everybody.

TasBurrfoot

And to you too! Superannuation can be salary packaged din pala. Pero type ko talaga na pati flights and vacation, pwede.

One last thing though. May nakapagtanong dito eh kung ano downside. I'm not too sure, pero I think (personal opinion), if wala naman ikaw binabayarang tax in the first place, this setup wouldn't work. Hindi ko pa alam ano iba disadvantages. But I suppose, it certainly doesn't work for everybody.

Downside I can think of is that if you over-stretched you salary packaging amount to more than your budget, wala ka ibang choice but to spend, spend and spend para ma fully utilize ang amount set aside for this...

Yun lang - that amount could have been just taxed and used (or saved) for better purpose...

Nadine

Oh but you don't have to do this though. Meal card lang ang hindi nagagalaw and set only for meals. The rest is good as cash. Kahit salary package pa yan. Nasa sayo na pera to spend as you deem fit. Parang meal card and novated car lease yung hindi nagagalaw, I think. Tingnan ko pa kung ano yung iba. And superannuation.

But when you put it that way though, madali nga gastusin ang meal card na $100. You sort of become complacent. Nauubos ko agad. Kasi kain lang ako ng kain sa labas. Tama ka in a sense, ngayon ko lang naisip din. Dapat careful sa kung ano ang ipasok as direct debit for salary packaging. Baka nasobrahan na nga naman.

nfronda

@Nadine..Buti namn at direct sa bank account m ung sinasalary packaging m.. Samin ksi hndi, ksi ung EPAC na company cla ung incharge sa salary packaging namin, so my prang credit card clang bnbgay na dun lahat pumpasok ang sinasalary packaging q except sa rent ng bhay na ung company ngbabayad and den salary deduction sakin which is before tax xa.. So sakin, kailangan ko tlgang gamitin ksi hndi pwde ma convert to cash.. At pag mgbabakasyon aq, nilalakihan q ang nominated amount q.. Laking tulong din nito ksi ngamit q nung wedding q last Jan..

peach17

thank you @Nadine, @TasBurrfoot a.k.a @psychoboy, and @nfronda

Tama po ba ang intindi ko

sa Salary Packaging?
1. you can choose which item to include in your salary package
2. pwedeng direct debit - so kailangan mo spend lahat ng madedebit sayo
3. pwede rin na madeposit sa bank account - so pwede mo pa rin magamit sa ibang bagay aside from those na nakastate sa salary packaging na pinili mo


Questions pa po:
1. Tuwing kelan po pwede iadjust yung amount ng salary packaging? every month po ba? or yearly ito? For example gusto nyo umuwi sa Pinas, kailan nyo po isasama ang Travel/Flight sa Salary Packaging? Naisip ko kasi kung isasama na agad sya sa start pa lang, eh kung hindi mawwithdraw ang money and hindi pwede gamitin sa iba, eh di masasayang po ung nakaallocate sa Travel/Flight for that specific month?

2. lahat po ba kayo na nag salary packaging, kailangan may financial adviser? magkano po bayad sa ganyan? Saka saan po kumukuha?

3. Ano po yung most advisable breakdown ng salary packaging para samin na magsisimula pa lang sa Australia? Like anong percentage dapat yung dapat iallocate sa:
Rent = ?
Food = ?
Car = ?
etc = ?

nfronda

thank you @Nadine, @TasBurrfoot a.k.a @psychoboy, and @nfronda

Tama po ba ang intindi ko

sa Salary Packaging?
1. you can choose which item to include in your salary package
2. pwedeng direct debit - so kailangan mo spend lahat ng madedebit sayo
3. pwede rin na madeposit sa bank account - so pwede mo pa rin magamit sa ibang bagay aside from those na nakastate sa salary packaging na pinili mo


Questions pa po:
1. Tuwing kelan po pwede iadjust yung amount ng salary packaging? every month po ba? or yearly ito? For example gusto nyo umuwi sa Pinas, kailan nyo po isasama ang Travel/Flight sa Salary Packaging? Naisip ko kasi kung isasama na agad sya sa start pa lang, eh kung hindi mawwithdraw ang money and hindi pwede gamitin sa iba, eh di masasayang po ung nakaallocate sa Travel/Flight for that specific month?

2. lahat po ba kayo na nag salary packaging, kailangan may financial adviser? magkano po bayad sa ganyan? Saka saan po kumukuha?

3. Ano po yung most advisable breakdown ng salary packaging para samin na magsisimula pa lang sa Australia? Like anong percentage dapat yung dapat iallocate sa:
Rent = ?
Food = ?
Car = ?
etc = ?

1. You can adjust anytime you want. Just advise your payroll department if gus2 mong e increase or e decrease ung salary packaging m.
2. Every company had their nominated financial adviser, so u don't have to worry for this at mganda talaga na mag consult ka sa kanila pra mas maiintindhan m ng maigi.
3. Example for me lg ha, ksi ung rent q ay 30% lg ung bnbyaran q and $320/week ung rent q so sa rent is $192/fortnight.
Den ung sa grocery q nominated amount q $600/fortnight.
Den sa retail goods which ay $200/fortnight.
And lastly sa meal ay $100/fortnight.

Pag my plan na mgbkasyon gngawa kong $200 ung sa meal q..

So dahil maliit na lg ung rent q, so higher percentage ay pumpunta sa groceries.

peach17

thank you @Nadine, @TasBurrfoot a.k.a @psychoboy, and @nfronda

Tama po ba ang intindi ko

sa Salary Packaging?
1. you can choose which item to include in your salary package
2. pwedeng direct debit - so kailangan mo spend lahat ng madedebit sayo
3. pwede rin na madeposit sa bank account - so pwede mo pa rin magamit sa ibang bagay aside from those na nakastate sa salary packaging na pinili mo


Questions pa po:
1. Tuwing kelan po pwede iadjust yung amount ng salary packaging? every month po ba? or yearly ito? For example gusto nyo umuwi sa Pinas, kailan nyo po isasama ang Travel/Flight sa Salary Packaging? Naisip ko kasi kung isasama na agad sya sa start pa lang, eh kung hindi mawwithdraw ang money and hindi pwede gamitin sa iba, eh di masasayang po ung nakaallocate sa Travel/Flight for that specific month?

2. lahat po ba kayo na nag salary packaging, kailangan may financial adviser? magkano po bayad sa ganyan? Saka saan po kumukuha?

3. Ano po yung most advisable breakdown ng salary packaging para samin na magsisimula pa lang sa Australia? Like anong percentage dapat yung dapat iallocate sa:
Rent = ?
Food = ?
Car = ?
etc = ?

1. You can adjust anytime you want. Just advise your payroll department if gus2 mong e increase or e decrease ung salary packaging m.
2. Every company had their nominated financial adviser, so u don't have to worry for this at mganda talaga na mag consult ka sa kanila pra mas maiintindhan m ng maigi.
3. Example for me lg ha, ksi ung rent q ay 30% lg ung bnbyaran q and $320/week ung rent q so sa rent is $192/fortnight.
Den ung sa grocery q nominated amount q $600/fortnight.
Den sa retail goods which ay $200/fortnight.
And lastly sa meal ay $100/fortnight.

Pag my plan na mgbkasyon gngawa kong $200 ung sa meal q..

So dahil maliit na lg ung rent q, so higher percentage ay pumpunta sa groceries.

Thank you @nfronda

Tama na po ba ang intindi ko about Salary Packaging?
1. you can choose which item to include in your salary package?
2. pwedeng direct debit - so kailangan mo spend lahat ng madedebit sayo?
3. pwede rin na madeposit sa bank account - so pwede mo pa rin magamit sa ibang bagay aside from those na nakastate sa salary packaging na pinili mo?

nfronda

@peach17..Yes tama ung pgkakaintindi m..

Ur very much welcome po..

TasBurrfoot

@peach17, ang salary packaging scheme ay may ibat ibang depending ito sa style ng company... In fact there are some company na walang salary packaging benefits.

If super nice ang package ni @nfronda, it may not follow that ganyan din sa ibang company. In our company for instance, novated lease, parking, and myki cards lang ang kasama.

Kaya sinabi ko na super nice ang kay @nfronda, dahil sa kanila kasama ang rent - which comprises a very big chunk of your monthly expense. If bayaran mo ito before tax, WOW TALAGA!!

Anyway, this benefit is a nice to know...

All the best...

Nadine

@Nadine..Buti namn at direct sa bank account m ung sinasalary packaging m.. Samin ksi hndi, ksi ung EPAC na company cla ung incharge sa salary packaging namin, so my prang credit card clang bnbgay na dun lahat pumpasok ang sinasalary packaging q except sa rent ng bhay na ung company ngbabayad and den salary deduction sakin which is before tax xa.. So sakin, kailangan ko tlgang gamitin ksi hndi pwde ma convert to cash.. At pag mgbabakasyon aq, nilalakihan q ang nominated amount q.. Laking tulong din nito ksi ngamit q nung wedding q last Jan..

Oh I see. Iba-ibang kumpanya, iba-iba talaga offers and/or benefits ng salary packaging. Kaya talaga, it is good to speak to a financial adviser parin bago mapasubo. @peach17, the company should be able to provide you with an onsite adviser.

@nfronda, yung credit card kong hawak is meal card lang. So yun ang hindi lang nagagalaw talaga. For meals lang yun. Hmmm, ano pang hindi nagagalaw... superannuation. Pre-tax ang pinili ko so from my salary, direct to the super company na. I've decided on this amount ever since I started.

The rest is good as cash in the bank. Ginagawa ko dun sa rental na naka-salary package, nilalagay ko in a different account that will serve as savings na rin. Kaya nga gusto ko reimbursements eh, rather than direct debit.

jengrata

@Nadine hindi ba sila humihingi ng proof na tlgang ginamit mo ung money dun sa listed items under salary packaging? If not, baka dumating yung time na humingi sila ng proof pag nalaman nila na maraming gumagawa nito. Although pera mo pa rin naman ito at the end of the day.

Technically, pag naka salary packaging, kung yung amount naka salary package, dapat dun lang mapunta di ba.

BUT, pag nasa account mo na ulit yung pera, who's to say kung saan mo gamitin? UNLESS direct debit, the money stays with you anyway.

peach17

@peach17..Yes tama ung pgkakaintindi m..

Ur very much welcome po..

thanks again @nfronda

peach17

@peach17, ang salary packaging scheme ay may ibat ibang depending ito sa style ng company... In fact there are some company na walang salary packaging benefits.

If super nice ang package ni @nfronda, it may not follow that ganyan din sa ibang company. In our company for instance, novated lease, parking, and myki cards lang ang kasama.

Kaya sinabi ko na super nice ang kay @nfronda, dahil sa kanila kasama ang rent - which comprises a very big chunk of your monthly expense. If bayaran mo ito before tax, WOW TALAGA!!

Anyway, this benefit is a nice to know...

All the best...

thanks for the added explanation @TasBufffoot
sana yung company na makuha namin may ganyan din.

alam nyo po ba kung anong industry lang ang nag offer nyan?

TasBurrfoot

@peach17, ang salary packaging scheme ay may ibat ibang depending ito sa style ng company... In fact there are some company na walang salary packaging benefits.

If super nice ang package ni @nfronda, it may not follow that ganyan din sa ibang company. In our company for instance, novated lease, parking, and myki cards lang ang kasama.

Kaya sinabi ko na super nice ang kay @nfronda, dahil sa kanila kasama ang rent - which comprises a very big chunk of your monthly expense. If bayaran mo ito before tax, WOW TALAGA!!

Anyway, this benefit is a nice to know...

All the best...

thanks for the added explanation @TasBufffoot
sana yung company na makuha namin may ganyan din.

alam nyo po ba kung anong industry lang ang nag offer nyan?

as I have say, it depends sa company... ahahaha!! i am not sure if these benefits are industry specific.

Nadine

@jengrata: Nope, they won't po. And they shouldn't actually if that isn't what you agreed upon. Walang spot check sa salary packaging. Pero dapat check mo talaga muna what sort of benefit and set-up you are agreeing into. Iba-iba kasi yan eh. Yun kay @nfronda, sabi niya, nasa isang card lahat ng salary packaging niya. At nakalaan na dun kung ano dapat gamitin for it.. Sa amin kasi hindi eh. Kasi binabalik lang sa bank ko. Parang pera lang na normal na pumapasok, except walang tax. Ang meal credit card lang ang naka-set sa akin.

Having said that though, Humingi sila ng rental/tenancy agreement, but more of proof na nag-rent talaga. Kasi may mga tao na sa kanila na yung bahay. Not eligible yun. Salary packaging is only for rental or mortgages. But that's it. Not obligated to show them actual receipt of payment. Still, kahit na ba hingan ka ng resibo ng bayad mo sa bahay, meron ka naman nun. It shouldn't be a problem to produce those.

What you are probably asking is if you can actually use the money for something else and not get hounded for it. Yes you can. But verify your SP before you sign up for anything. I think it's a law yata (I could be wrong though) that you need a financial adviser for initial documentation. May papeles na kailangan signature nila. Chance po yan talaga to exhaust all questions.