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B - 31.6 Salary Packaging
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31.6.1 Salary Packaging General Information
Salary packaging is also referred to as salary sacrificing or total remuneration packaging. It is an arrangement between an employee and an employer, where the employee agrees to forego part of their salary or wages in return for your employer (or someone associated with your employer) providing benefits of a similar value.
Salary packaging is a voluntary option for eligible employees: The University strongly recommends that an employee who is considering salary packaging seek independent financial advice before entering into any agreement to package.
Salary Packaging at UWA is not available to casual employees at UWA.
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31.6.2 Who is Eligible to Salary Package?
To be eligible to salary package an employee must:
- have an employment contract for a minimum of three (3) months at the time of entering into salary packaging arrangement.
Employees who have less than a three month contract may apply to salary package. The application will be assessed by the Salary Packaging Coordinator on a case by case basis.
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31.6.3 Why does the University allow salary packaging?
Salary Packaging allows the University to provide flexibility for employees in regard to their pay.
Salary Packaging Fees
The University charges a fee for employees to salary package to cover administrative costs. A fee of 2.5% of the value of the packaged items is applicable to:
- 7% Unisuper or flexible contribution rate
- Staff Parking
E.g. An employee receiving a salary of $1500 per fortnight and packaging $100 worth of benefits will pay a fee of $2.50 per fortnight. The fee is subject to Goods & Services Tax (GST) which is included within the 2.5%.
A fee of 1% of the value of the packaged items is applicable to:
- Voluntary Contributions into superannuation
For all other salary packaging items the fee is 3% of the value of the packaged item.
E.g. An employee receiving a salary of $1500 per fortnight and packaging $100 worth of benefits will pay a fee of $3 per fortnight. The fee is subject to Goods & Services Tax (GST) which is included within the 3%.
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