Salary Packaging definition

Salary Packaging means the arrangement which allows salary to be taken as benefits before tax.

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Salary Packaging means a percentage of the total base remuneration rate is "packaged" and taken as a non cash component which has an equivalent cash value.

Salary Packaging means in the context of this Agreement is the sacrifice or substitution of salary for other benefits, provided that the total cost to ARRCS will be no greater than if the entire employee's entitlements had been taken as pay-as-you-go (PAYG) salary. The cost of the benefit (including taxes and administration expenses) is deducted from the total package of an employee to arrive at the cash salary component.

Examples of Salary Packaging in a sentence

• The detail of salary packaging for each employee is to be set out in the Salary Packaging Agreement.

• The detail of salary packaging for each employee is to be set out in the Salary Packaging Agreement letter.

• The Employee recognises that failure to repay any FBT liability may result in suspension of this agreement under clause 45(e), termination of this agreement under clause 45(f), withdrawal of the Employee’s access to their Salary Packaging Agreements and the recovery of the FBT debt by the Supplier in accordance with the Standing Offer Arrangement.

• The Supplier may debit the Relevant Salary Packaging Balance in accordance with this agreement, Salary Packaging Agreements, instructions from the Employer or to recover any amount the Employee owes in connection with this agreement.

• The Employee is under no obligation to participate in Salary Packaging Agreements, and entered into this agreement of his or her own free will.

• For the avoidance of doubt, the Employee cannot cease their Salary Packaging Agreements with one Supplier and commence Salary Packaging Agreements (whether in relation to the same or different Benefit Items) with a different Supplier outside of the approved transition periods.

• If this threshold is exceeded by the addition of the GUTV of salary packaging fringe benefits, the resultant FBT liability will be deemed to be arising because of Salary Packaging Agreements regardless of the circumstances, and is therefore the responsibility of the Employee.

• The Employee will not be able to continue participation in Salary Packaging Agreements after the agreement is brought to an end under this clause unless the Employee has entered into new Salary Packaging Agreements with the agreement of the Employer, as set out in clause 45(b).

• The Employer may suspend this agreement and all Salary Packaging Agreements for a period of up to three months by giving at least three months’ notice in writing of the suspension to the Employee.

• This clause is an agreement entered into in accordance with Clause 44 Salary Packaging of the Award and shall be read in conjunction with that clause.

More Definitions of Salary Packaging

Salary Packaging means the substi- tution of goods and/or services (“Benefits”), valued at their cost, for salary payable under this Award.

Salary Packaging means a salary packaging arrangement the Employer and an individual Employee enter into by mutual agreement in accordance with the Employer’s salary packaging policy as varied from time to time

Salary Packaging means an arrangement between the employer and an employee where the employee agrees to forego part of their future entitlement to salary or wages in return for the employer providing them with benefits of a similar value. Salary Packaging Provider means the employer’s elected provider for outsourced salary Sexual violence covers a wide range of behaviours perpetrated against adults, including (but not limited to) sexual harassment, stalking, indecent assault, rape, forced or deceptive sexual exploitation (such as having images taken and/or distributed without freely given consent). Shiftworker means an employee engaged to work shift work as defined in this agreement.

Salary Packaging means that an employee will have part of their salary "sacrificed" into a fringe benefit which does not constitute a direct payment to the employee, but is payable to a bona fide third party. The terms and conditions of such a package will not be less favourable than the entitlements otherwise available under the Enterprise Agreement and shall be subject to the following provisions: