Salary sacrificing

The University offers eligible employees the opportunity to salary sacrifice up to 100% of their gross salary to superannuation and other approved benefits. Employees may structure their remuneration to receive a combination of salary and approved benefits which have the potential to reduce the amount of tax they pay and maximise their net salary.

Eligibility

Motor vehicle (novated leases) and other items

Employees (excluding casual employees) who at the time of salary sacrificing have a current appointment with 12 months or more before their employment expires, may elect to participate in the salary sacrificing scheme.

Superannuation contributions (UniSuper, SASS and SSS)

  • Members of UniSuper, State Authorities Superannuation Scheme (SASS) or State Superannuation Scheme (SSS) may elect to salary sacrifice their compulsory superannuation contributions at any time.
  • Employees (including casual employees) may elect to salary sacrifice additional voluntary contributions to UniSuper.
  • Salary sacrificing is voluntary.

Note: The University reserves the right to terminate salary sacrificing arrangements should legislative changes relating to superannuation or taxation have an impact on those arrangements.

Financial advice

  • The University strongly recommends that employees seek independent financial advice from a qualified adviser, tax agent, accountant or financial planner before entering into a salary sacrificing arrangement.
  • A list of qualified and licenced financial planners is available on the Financial Planning Association of Australia website as a resource for employees seeking professional advice. Placement on the list in no way indicates that the University endorses, recommends or guarantees the Financial Adviser's performance. Employees are under no obligation to use the services of these companies and may prefer to seek advice from a financial adviser of their choice.

Items that can be packaged

Motor vehicles (novated leases)

Employees may enter into a novated lease arrangement for a new, used or existing vehicle. The vehicle must have a genuine market value of $10,000 or greater on the day of purchase.

  • The University has appointed SG Fleet to administer all novated leases.
More information leases

Other items

Items, other than motor vehicles, that can be packaged through SG Fleet, the University's salary packaging administrator, include:

  • Superannuation contributions to retail/private superannuation funds (other than to UniSuper, SASS and SSS).
  • Airport lounge memberships.
  • These items do not attract fringe benefits tax.
More information

Superannuation contributions

(UniSuper, SASS and SSS)

  • Employees who are members of UniSuper, SASS or SSS may choose to salary sacrifice their compulsory superannuation contributions.
  • Employees (including casual employees) may elect to salary sacrifice additional voluntary contributions to UniSuper.

 

 

More information on superannuation

Further information

For assistance and further information contact:

Payroll Services
E: payroll@scu.edu.au

Disclaimer

Information contained in the University's documentation on salary sacrificing is privileged and confidential and is provided to employees of the University on the understanding that it neither represents nor is intended to be legal, taxation or financial advice, or that the University is engaged in giving advice.

Whilst every care has been taken to ensure the accuracy of the information contained in the documentation on salary sacrificing, it is not possible to provide complete information on a website such as this.

Southern Cross University and persons involved in the preparation of documentation on salary sacrificing will not accept any legal responsibility or liability for any errors or omissions that may have been made or to the correctness of the information contained within the documents, or for any loss or damage associated with salary sacrificing by an employee.

Southern Cross University reserves the right to change, adjust or in any way alter, any of the information contained within the documentation relating to salary sacrificing.

Employees are strongly advised to seek independent expert financial advice before entering into any salary sacrificing arrangement.