Salary Sacrificing

DISCLAIMER
Whilst care has been taken to ensure the accuracy of the information contained in this site it is not the intention to provide every possible piece of information or detail in the web site with respect to salary sacrificing. The Web site is designed to provide you with key information which might assist you in understanding how salary sacrificing affects you. Indeed it must be remembered that individual circumstances vary and thus affect the benefits or otherwise of participating in salary sacrificing arrangements. Accordingly, the University strongly urges all staff contemplating salary sacrificing to seek independent financial planning advice. No person should rely on the contents of this site without first obtaining such advice.
 
The information in this site is provided to interested staff on the understanding that UNSW is not responsible for the results of action taken on the basis of information contained herein nor for any error or omission in this publication and UNSW hereby expressly disclaims all and any liability and responsibility to any reader of this site in respect of anything done or omitted to be done (or the consequences thereof) by any person in reliance upon the whole or any part of the information contained in this site.

Introduction
General Principles
How To Take Part
Changing or Terminating the Package
The Effect of Salary Sacrificing on Employee Entitlements

Benefits Available

UNSW Workplace Giving Program

UNSW employees can now be part of a very effective program, why don't you get involved?

Introduction

The University recognises the value to employees of flexible remuneration planning. Salary sacrificing is one way to provide this flexibility. The principle aim of salary sacrificing is to legitimately restructure the way you receive your salary to suit your individual needs and potentially maximise your take home pay. This is achieved by allowing you to receive part of your salary in the form of benefits rather than receiving it all as salary.

Salary sacrificing has been available at UNSW since 1997 with the introduction of salary sacrificing arrangements for child care at Tiggers Place and compulsory superannuation contributions to UniSuper.

General Principles

When considering the salary sacrificing of particular benefits, you should note the following:

  • participation in the salary sacrificing scheme is voluntary;
  • you are free to negotiate only for those benefits that the University has made available that best satisfy your financial and personal needs;
  • participation is available only to Full or Part Time Professional & Academic UNSW Staff;
  • any direct costs associated with providing salary sacrificing will be a cost to you, for example, the 15% contributions tax on superannuation and Fringe Benefits Tax (FBT).

How To Take Part

Should you wish to enter a salary sacrificing arrangement:

  • for superannuation contact the Superannuation Officer at superannuation@unsw.edu.au
  • car parking deductions for new employees are automatically salary sacrificed unless otherwise advised by the University Parking Office.
  • Lifestyle Clinic (UNSW Medicine) on ext. 53352.
  • for laptop or notebook computers contact Salaries, Human Resources on ext. 51706
  • for Electronic Diary or Organisers contact Salaries, Human Resources on ext. 51706
  • for motor vehicles, all contact and discussions regarding leasing arrangements are to be made directly to the LeasePlan Account Manager.
    Veronica Sarin
    Ph: 9364-1945
    Email: veronica_sarin@leaseplan.com.au
  • UNSW Fitness and Aquatic Centre - YMCA ext. 54881.
  • Association of Tertiary Education Management Membership: Stephen Gray. Phone: 9385 7002 Email: stephen.gray@unsw.edua.u

Changing or Terminating the Package

You may request changes to the structure of your salary package at any time after the arrangement commences. Should you wish to change your salary sacrificing arrangement or withdraw from the scheme you will be required to provide 8 weeks notice to the University. (UNSW Fitness and Aquatic Centre - YMCA excluded).

The Effect of Salary Sacrificing on Employee Entitlements

Annual Leave Loading
 
You will continue to be paid leave loading based on the salary rates prescribed by the University's Academic and General Staff Enterprise Bargaining Agreements.
 
Allowances
 
Any allowances that you receive which are expressed as a percentage of a salary rate contained in the University's Enterprise Bargaining Agreements, will continue to be calculated and paid based on these salary rates.
 
Overtime
 
Where you are eligible to be paid overtime, such payments will be calculated using the salary rate applicable to your position as specified in the University's Enterprise Bargaining Agreements.
 
Payment of Time in Lieu
 
Where you have worked additional hours and it has been agreed to pay you for these, such payment will be calculated using the salary rate applicable to your position as specified in the University's Enterprise Bargaining Agreements.
 
Superannuation
 
The superannuable salary for rate of contribution and benefit entitlement purposes is that applicable to your position and contained in the University's Enterprise Bargaining Agreements.
 
Paid Leave and Leave Without Pay
 
Should you take any paid leave, any salary sacrificing arrangements will continue to occur, unless the University is advised by the employee giving 8 weeks notice.
 
In those cases where the leave is unplanned the University will endeavour, but cannot guarantee, to vary the salary sacrificing arrangements in accordance with your wishes.

Frequently Asked Questions (FAQs)