Salary packaging

salary sacrificesalary package
Salary packaging (also known as salary sacrifice or salary exchange) is the inclusion of employee benefits (also called fringe benefits) in an employee remuneration package in exchange for giving up part of monetary salary.wikipedia
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Employee benefits

benefitsemployee benefitperquisite
Salary packaging (also known as salary sacrifice or salary exchange) is the inclusion of employee benefits (also called fringe benefits) in an employee remuneration package in exchange for giving up part of monetary salary.
Instances where an employee exchanges (cash) wages for some other form of benefit is generally referred to as a "salary packaging" or "salary exchange" arrangement.

Novated lease

vehicles (either a company car or through a novated lease)
The term is often used in Australia to describe the entire arrangement for the use of a motor vehicle via salary packaging, where, as part of the arrangement, a lease is novated from an employee to an employer.

Fringe benefits tax (Australia)

fringe benefits taxfringe benefitsFBT
Salary packaged benefits in Australia generally attract Fringe Benefits Tax within the Australian taxation system, with a few exceptions - some benefits are Fringe Benefits Tax exempt, including mobile phones and laptop computers if used for work purposes.
Some employers offer to provide their employees fringe benefits in place of part of their salary in an arrangement called salary packaging.

Taxation in Australia

Australian taxation systemcorporate taxationtaxation
Salary packaged benefits in Australia generally attract Fringe Benefits Tax within the Australian taxation system, with a few exceptions - some benefits are Fringe Benefits Tax exempt, including mobile phones and laptop computers if used for work purposes.
Salary packaging

Employment

employeeemployeremployees
Salary packaging (also known as salary sacrifice or salary exchange) is the inclusion of employee benefits (also called fringe benefits) in an employee remuneration package in exchange for giving up part of monetary salary.

Remuneration

compensationemolumentemoluments
Salary packaging (also known as salary sacrifice or salary exchange) is the inclusion of employee benefits (also called fringe benefits) in an employee remuneration package in exchange for giving up part of monetary salary.

National Insurance

social securitynational insurance contributionsnational insurance contribution
In the United Kingdom, employee benefits commonly included in salary sacrifice arrangements are pension contributions, childcare vouchers, annual leave, etc. If correctly structured, the arrangement can benefit both parties as it saves them both NI contributions as well as save the employee income tax.

Take-home vehicle

company carbusinesscars
vehicles (either a company car or through a novated lease)

Laptop

laptop computerlaptopsnotebook computer
laptop computers

Cost to company

Cost to company (CTC) is a term for the total salary package of an employee, used in countries such as India and South Africa.

Childcare voucher scheme

Childcare Voucher
The scheme was normally offered as a salary sacrifice scheme, which means that UK parents who are in the scheme are able to sacrifice part of their salary in order to obtain childcare vouchers (of an equal amount).

Electrolux Home Products Pty Ltd v Australian Workers' Union

Electrolux v The Australian Workers' Union
(However, there was also some concern regarding provisions against the use of contract labour or setting the terms and conditions of contract labour and salary sacrifice into superannuation.)

Cycle to Work scheme

Cycle to Work
It is possible to run schemes in-house or purchase ready-made Salary Sacrifice and Hire agreements online.

Dave Prentis

This means that they came out of his salary in a "salary sacrifice" scheme, not that he funded them from other income or assets.

Packaging (disambiguation)

Salary packaging, Australian term for manipulation of employee benefits