8.0 Salary Packaging Process Overview for New Staff
For information on:
- What is salary packaging?
- Who is able to salary package?
- Can I benefit from salary packaging?
- What does it cost?
- Salary packaging advice requirement
- Benefits available
Go to 'New to Salary Packaging'
8.1 Obligations
Employees' obligations are to:
- Read, understand, and where applicable, sign all documentation relating to their Package. This would include:
Non Motor Vehicle Package
- Offer to Salary Package
- Salary Packaging Schedule
- Application for Bookshop Credit Account (where applicable)
- Related Superannuation Forms (where applicable)
Motor Vehicle Package
- Offer to Salary Package
- Salary Packaging Schedule
- Motor Vehicle Agreement
- Use of Vehicle Declaration
- Fringe Benefit Tax Agreement
- Motor Vehicle Delivery Details
- Key Information
Returning a Salary Packaged Vehicle
- Motor Vehicle Disposal form.
- Return any Offer(s), Agreement(s) or Schedule(s) by the due date as required. If a due date is not specified on the documentation then it should be returned as soon as possible.
- Check payslips regularly to ensure their Salary Sacrifice is being deducted and is correct.
EMPLOYEES WHO HAVE NOT SIGNED THE RELEVANT DOCUMENTATION CANNOT TAKE DELIVERY OF A MOTOR VEHICLE
Pay Slip
Each packaged benefit will be shown individually under DEDUCTIONS and preceded by the code EB (Employee Benefits). EB deductions are pre-tax and will reduce your gross salary accordingly for calculation of PAYG Tax.
Payment Summary
The Gross Salary shown on your Payment Summary is your Annual Salary less the total amount of salary sacrifice for that financial year.
Any benefit attracting FBT will have the grossed up taxable value of that benefit shown on your Payment Summary - and is known as a Reportable Fringe Benefit.
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