Salary Sacrifice - Australian Customs Service

Table of Contents
UNCLASSIFIED
Table of Contents ................................................................................................................ 2
Introduction ......................................................................................................................... 3
1. Definition ................................................................................................................... 4
2. Salary sacrifice as offered by Customs and Border Protection ............................ 4
3. Salary sacrifice items ............................................................................................... 4
4. What is salary for salary sacrificing purposes? ..................................................... 4
5. How much salary can be sacrificed? ...................................................................... 5
6. Insufficient Funds..................................................................................................... 5
7. Salary sacrifice providers ........................................................................................ 5
7.1 Motor Vehicle packaging and Airline Lounge membership ...................................... 5
7.2 Superannuation ...................................................................................................... 5
8. Superannuation policy and process ....................................................................... 6
9. Salary Sacrifice and Fringe Benefits Tax (FBT) ..................................................... 6
10. ‘Exempt car benefits’ ............................................................................................... 7
11. Separations ............................................................................................................... 7
12. Financial advice ........................................................................................................ 7
13. Additional Information ............................................................................................. 7
14. Related Policies and References ............................................................................. 8
15. Key Roles and Responsibilities ............................................................................... 8
16. Consultation ............................................................................................................. 8
16.1 Internal Consultation ............................................................................................... 8
16.2 External Consultation .............................................................................................. 8
Endorsement ....................................................................................................................... 9
Approval .............................................................................................................................. 9
2