1 SOUTH AUSTRALIAN GOVERNMENT SALARY SACRIFICE INFORMATION BOOKLET OFFICE HOLDERS REMUNERATION TRIBUNAL DETERMINATION What s New? No limit on salary sacrifice for superannuation contributions to a complying fund. Pages 6 to 11
2 2 LIST OF ABBREVIATIONS ATO DIY FBT GST PAYE PBI SSA WorkCover (SA) Australian Taxation Office Do it Yourself Fringe Benefits Tax Goods and Services Tax Pay As You Earn Tax Public Benevolent Institution Salary Sacrifice Agreement and/or Salary Sacrifice Arrangement Worker s Rehabilitation and Compensation system in South Australia Definitions: Terms used herein have the meaning given in the Determination of the Remuneration Tribunal made on the 17th day of July Determination is the Determination of the Remuneration Tribunal No. 6 of 2007; nominee means the Panel Member selected by the office holder where need be to administer his or her Salary Sacrifice Arrangement; office holders means officers within the terms and provisions of the Determination; paying authority means a paying authority within the terms and provisions of the Determination; DISCLAIMER This publication has been prepared without consideration of the particular investment objectives or financial situation of office holders (also referred to in this booklet as office holder as appropriate). In all cases, office holders should conduct their own investigation and analysis of the information contained in this publication. No office holder should act on the basis of any matter contained in this publication without obtaining, considering and taking appropriate independent legal, financial or other professional advice in respect of the office holder s own particular and personal circumstances. It is strongly recommended that each office holder who wishes to take advantage of Salary Sacrifice seek appropriate independent legal, financial or other professional advice regarding entry into Salary Sacrifice and their Salary Sacrifice arrangement. The State of South Australia and its agencies, instrumentalities, the paying authorities on behalf of the office holders, the State Courts Administrator, the Chief Executive, Department for Administrative and Information Services, the Chief Executive, Attorney General s Department, the Chief Executive, Auditor General s Department, the Chief Executive, State Electoral Office, and the Remuneration Tribunal (referred to in this booklet as the Tribunal ) and each of their respective employees and every person associated or connected with the preparation of this publication expressly disclaims all liability for any loss or damage of any kind whatsoever (whether foreseeable or not) which may arise from any person/s acting upon or in reliance in respect of any statement contained in this publication. This disclaimer does not limit or alter those statutory rights, which cannot be abrogated.
3 3 TABLE OF CONTENTS 1. Introduction...5 What is the Salary Sacrifice? Office Holders only sacrificing into Triple S Scheme...6 Principles of the Salary Sacrifice Arrangement How the Salary Sacrifice Arrangement Works Salary Matters...8 Offer to Participate in Salary Sacrifice...9 Salary For the Purposes of Salary Sacrifice...9 Change in Salary Sacrifice Agreement Superannuation...9 State Pension Scheme...10 State Lump Sum Scheme...10 Southern State Superannuation Scheme (Triple S Scheme) Administration of the Salary Sacrifice Arrangement...11 Role of the Nominee...11 Forms and Information...13 List of Approved Nominees...13 Approved Services to be Provided by Nominee...14 Reports to Office Holder by Nominee...15 Customer Service Standards of Nominee...15 Dispute Resolution Process...16 Customer Focus Group Officer holders Terms and Conditions of the Salary Sacrifice Agreement...17 Terms and Conditions...17 Methods of Payment...18 Costs Incurred Prior to Commencement of Salary Sacrifice...18 Reimbursement of Payments in Respect to Salary Sacrifice Benefits...18 Allocating Money to Salary Sacrifice Benefits...18 No Funds = No Payment...19 Annual Reconciliation Taxation Implications...19 Fringe Benefit Tax Reporting Requirements Salary Sacrifice: Approved Benefits...19 Contributions to Complying Private Superannuation Fund Where to from Here...22 Establishing a salary sacrifice arrangement (except where an office holders salary sacrifice arrangement only involves sacrifice of salary into the triple s scheme)...22 Establishing a salary sacrifice arrangement where an office holders salary sacrifice arrangement only involves sacrifice of salary into the triple s scheme...23 APPENDIX A - BENEFITS...24 DESCRIPTION OF BENEFIT ITEMS...25 A1 Additional Superannuation Contributions...25 A2 Home Office Expenses...27
4 4 A3 Membership Fees and Subscriptions to Professional Associations...28 A4 Financial Counselling Fees...29 A5 Disability/Income Protection Insurance Premiums...30 A6 Self Education Expenses...30 A7 Own Home Mortgage Payments...31 A8 Personal Loan Servicing from Registered Financial Institutions...32 A9 Private Home Rental...33 A10 School Fees Including Higher Education Contribution Scheme Payments...34 A11 Private Travel...34 A12 Trauma/Life Insurance Premiums...35 A13 Childcare Expenses by a Registered Provider...36 A14 Aged or Disabled Care Expenses...37 A15 Private Health Insurance Contributions...37 A16 Own Motor Vehicle through a Novated Lease...38 A17 Household Utilities...39 A18 Household Rates...40 A19 Car Parking...40 A20 Taxi Travel to and from Work...41 A21 Staff Fitness/Gym Facility (In House)...41
5 5 1. INTRODUCTION The Tribunal in its Determination regarding Salary Sacrifice, No. 6 of 2007 for Judges, Court Officers and Statutory Officers provides that a salary sacrifice arrangement is to be made available to these office holders, pursuant to the terms and conditions of the Determination. The Information Booklet gives information regarding the Salary Sacrifice Arrangement that is available to office holders. Note: All of the documentation for the Tribunal s Salary Sacrifice Arrangements has been drawn up to conform with ATO guidelines. What is the Salary Sacrifice? Office holders can choose to take their remuneration either by way of: Cash salary; or A combination of cash salary and the receipt of selected salary based noncash benefits. The salary based non-cash benefits (referred to in this booklet as Salary Sacrifice benefits ) are chosen by the office holder in lieu of salary and wages. The Salary Sacrifice benefits selected by an office holder participating in the Salary Sacrifice Arrangement are paid for by the paying authority offering the Salary Sacrifice Arrangement to the office holders. The payment of Salary Sacrifice benefits by the paying authority is made through the office holder s nominee for distribution to the providers of the Salary Sacrifice benefits, except where the office holder is sacrificing only into the Triple S Scheme the paying authority will administer the Salary Sacrifice Arrangement and make the appropriate payments into the Triple S Scheme without the need for the office holder to appoint a Nominee. Selection of Salary Sacrifice benefits is designed to suit the individual and personal needs of office holders participating in the Salary Sacrifice Arrangement. The Fringe Benefits Tax Assessment Act 1986 and the Income Tax Assessment Act(s) 1936 regulate and define: The type of Salary Sacrifice benefits that: Are available to office holders; and
6 6 Can be packaged by office holders; and How Salary Sacrifice benefits are to be treated for tax purposes. 2. OFFICE HOLDERS ONLY SACRIFICING INTO TRIPLE S SCHEME All office holders who sacrifice only into the Triple S Scheme need to note the following: these office holders do not need to nominate a Nominee and all comments in the Booklet relating to a Nominee do not concern them; these office holders need only pay the Administration Fee payable to the paying authority; no Administration Fee is payable to a Nominee; office holders may obtain all documents needed to effect sacrificed salary into the Triple S Scheme from the paying authority; the paying authority will pay the sacrificed amount into the Triple S Scheme and administer the office holder s Salary Sacrifice Arrangement without the need for an office holder to appoint a Nominee; as with all salary sacrifice, it is strongly recommended that an Office Holder who wishes to take advantage of this benefit seeks appropriate independent legal, financial or other professional advice to ensure that the benefit arrangements comply with relevant taxation legislation and rulings. Principles of the Salary Sacrifice Arrangement The Salary Sacrifice Arrangement is provided to office holders, by the Remuneration Tribunal in its Determination on Salary Sacrifice No. 6 of 2007 with the following provisos: That it is introduced at no additional cost to the paying authority: Office holders entering into a salary sacrifice arrangement will be required to pay all costs associated with providing the salary sacrifice arrangement, including: Any Fringe Benefits Tax (FBT) liability incurred by the paying authority as a result of the office holder entering into a salary sacrifice; The costs incurred by the paying authority in setting up each individual salary sacrifice arrangement; and The administration fee charged by the office holder s nominee.
7 7 A maximum of 50%, of the office holder s pre-tax salary prescribed in the Determination, may be sacrificed and applied to non-cash benefits (referred to in this booklet as the sacrificed amount ) with the exception of Superannuation. There is no limit on salary sacrifice for superannuation contributions to a complying fund. Participating office holders are required to appoint a nominee from a list of panel members approved by the paying authority for the day to day administration of the office holder s Salary Sacrifice arrangements (eg. the distribution of the Salary Sacrifice benefits to intended recipients), except where sacrificing to the Triple S Scheme only. Where no nominee has to be appointed; the paying authority will pay directly into the Triple S Scheme. For details of the approved nominees, see page 14. Salary packaging is to be cost neutral to the Government. There are costs associated with setting up and maintaining Salary Sacrifice arrangements for office holders particularly in payroll areas. As a result, the paying authority will charge an administration/participation fee of $ GST to partially offset these costs. The fee will be payable by office holders participating in Salary Sacrifice arrangements and will be paid to the relevant paying authority. This fee will be charged for each SSA entered into by an office holder and will be in addition to any fees charged to the office holder by the office holder s nominee. Fee Structure: Please note, the administration fee may be subject to change from time to time as permitted by the paying authority. The administration fee is payable to the nominee by equal fortnightly instalments in arrears. The fee structure for the respective nominees may be determined by enquiry to the contacts listed on page 14. An Administration charge of $27.50 including GST is payable to the paying authority by the office holder at the commencement of each salary sacrifice arrangement. Note: Office holders who participate in the SSA are strongly recommended to seek independent financial advice with regard to their decision as to whether to Salary Sacrifice and their Salary Sacrifice Arrangement. It is the sole responsibility of office holders to seek and obtain such advice and it is not a matter that has anything to do with the paying authority.
8 8 3. HOW THE SALARY SACRIFICE ARRANGEMENT WORKS The major processes of the Salary Sacrifice Arrangement, as set out in the contract between the Government and the nominee, are as follows: (a) (b) (c) (d) the office holder to select Salary Sacrifice benefits in respect of their Salary Sacrifice arrangements except where the office holder is sacrificing only into the Triple S Scheme; the office holder must seek their own independent advice from a financial adviser; the office holder to elect to enter into an SSA; the nominee where appointed is to confirm the office holder s Salary Sacrifice arrangement details and to notify the employer or paying authority of individual and total: (i) payroll deductions in respect of the sacrificed amount; and (ii) the estimated FBT liability; (e) the nominee where appointed to commence and continue the performance of administrative duties, functions and obligations with regard to the carrying on of the business and the provision of services including the distribution and/or transfer associated with Salary Sacrifice arrangements; (f) the paying authority to remit sacrificed amounts (including any budgeted FBT amount) to the nominee in each payroll period unless the office holder s only sacrifice is into the Triple S Scheme; (g) (h) (i) the nominee where appointed to prepare reconciliations and advice to the paying authority of actual expenses and FBT liabilities incurred; the paying authority to make FBT payments to Australian Taxation Office; and the nominee where appointed to provide appropriate reporting to office holders and the paying authority. Note: If there is an outstanding FBT liability to the paying authority occasioned by the office holder s Salary Sacrifice arrangements (i.e. the failure on the part of the office holder to provide or budget for the right amount), then the paying authority will recover this from the office holder. 4. SALARY MATTERS Office holders electing to Salary Sacrifice have the option of sacrificing up to 50% of their salary each financial year in which they participate in Salary Sacrifice, with the exception of Superannuation. There is no limit on salary sacrifice for superannuation contributions to a complying fund. Salary is defined in the Determination of the Tribunal. Each pay period the paying authority s pay office will transfer the amount of the office holder s salary sacrificed to the office holder s nominee where
9 9 appointed for distribution in respect of selected Salary Sacrifice benefits and any resulting FBT liability. At the time of entering into the Salary Sacrifice Arrangement, the paying authority will require the office holder to complete certain forms and provide certain information to his or her nominee to ensure the proper and orderly distribution of the amount of the office holder s sacrificed salary to providers of selected Salary Sacrificed benefits. Offer to Participate in Salary Sacrifice The following forms will be obtainable from the nominee, not your payroll office, except that office holders who are only sacrificing into the Triple S Scheme may obtain the necessary forms from the payroll office of the paying authority. Each office holder intending to participate will receive from their paying authority (supplied by the nominee) a SALARY SACRIFICE AGREEMENT ( SSA ), which sets out the terms and conditions of Salary Sacrifice. Attached to the SALARY SACRIFICE AGREEMENT, the ACCEPTANCE OF OFFER OF SALARY SACRIFICE will include a statement of salary of the office holder. Salary For the Purposes of Salary Sacrifice The maximum percentage of salary that can be sacrificed by an office holder will be as determined by the Remuneration Tribunal from time to time. Change in Salary Sacrifice Agreement Where an office holder is required to enter into a new Salary Sacrifice Agreement, the office holder will bear any costs incurred with this process. It is the responsibility of an office holder participating in Salary Sacrifice to notify the nominee or if a nominee has not been appointed the paying authority, immediately upon the time he/she ceases to hold a public office specified in his/her Salary Sacrifice Agreement. 5. SUPERANNUATION The following brief overview of the superannuation implications for office holders, and other employees 1 who elect to Salary Sacrifice, has been provided by Super SA. 1 subject to the definition of employees for superannuation purposes under the Superannuation Act, 1988, and subject to the definition of member under the Southern State Superannuation Act, 1994.
10 10 The superannuation implications are shown for each State superannuation scheme separately. Salary Sacrificed amounts will be acceptable by Super SA from State Pension, Lump Sum and Triple S scheme members. It is important to note that employee contributions required to be paid into the State Pension and Lump Sum schemes cannot be directed to these schemes by way of Salary Sacrifice. Employee contributions to be paid to either of these schemes, must continue to be deducted from after tax income. Where an office holder elects to Salary Sacrifice superannuation amounts to Super SA, the Salary Sacrifice amounts will be for payment into the Triple S Scheme. Office holders also have the option of sacrificing into a complying private superannuation fund. Where an application to join the Triple S Scheme is required for salarysacrificed amounts (i.e., State Pension and Lump Sum scheme members), forms can be obtained from your paying authority. As with all salary sacrifice, it is strongly recommended that an Office Holder who wishes to take advantage of this benefit seeks appropriate independent legal, financial or other professional advice to ensure that the benefit arrangements comply with relevant taxation legislation and rulings. Note: Should any office holder wish to discuss their own personal situation regarding sacrificing into the Triple S Scheme please contact Super SA, Member Services, telephone State Pension Scheme Under the Superannuation Act 1988, office holders who elect to have a Salary Sacrifice component will have their total 2 salary before any Salary Sacrifice component is deducted recognised for superannuation contribution and benefit purposes. Contributions will be based on an office holder s salary as fixed by the Remuneration Tribunal but paid for out of after tax earnings. Salary Sacrifice superannuation amounts cannot be paid to the State Pension Scheme, but are paid into the Triple S Scheme, or a private complying superannuation fund. State Lump Sum Scheme Exactly the same as for State Pension Scheme members. 2 subject to the definition of salary for superannuation purposes under the Superannuation Act, 1988.
11 11 Southern State Superannuation Scheme (Triple S Scheme) Under the Southern State Superannuation Act 1994, office holders who elect to Salary Sacrifice will have their employer and elected employee contributions based on their salary 3 as determined by the Remuneration Tribunal, from time to time, and determined before any Salary Sacrifice component is deducted. Elected employee contributions will be based on their salary according to the Remuneration Tribunal Determination, but paid for out of after tax earnings. Office holders who are members of the Triple S Scheme, excluding State Pension and Lump Sum scheme members who have joined for Salary Sacrifice purposes, have the option to contribute from after tax salary, by way of a Salary Sacrifice amount, or a combination of both. Office holders who are only sacrificing into the Triple S Scheme do not have to appoint a nominee and only have to pay the Administration Fee payable to the paying authority, which will administer the Salary Sacrifice Arrangement. 6. ADMINISTRATION OF THE SALARY SACRIFICE ARRANGEMENT Please note that a nominee need not be appointed by an office holder who is only sacrificing into the Triple S Scheme and all references in this Booklet to a nominee need not concern such an office holder. The paying authority will administer the Salary Sacrifice Arrangement of office holders sacrificing solely into the Triple S Scheme without involving a nominee. Role of the Nominee The nominee is appointed by the office holder to conduct the administration of the office holder s Salary Sacrifice arrangement. The office holder shall appoint a member of the panel appointed by the paying authority for the purpose of the administration of their Salary Sacrifice Agreements as their nominee. The administration of the Salary Sacrifice arrangement will be the responsibility of the nominee appointed and authorised by the office holder. It is the responsibility of the office holder to advise the paying authority of the identity of their nominee for the purpose of Salary Sacrifice. 3 subject to the definition of salary for superannuation purposes under the Southern State Superannuation Act, 1994.
12 12 It is the responsibility of the office holder to ensure that adequate quality control mechanisms are in place and that the nominee has secured adequate insurance to avoid against any loss by the office holder. All costs, charges, disbursements, fees or other similar expenses charged by the nominee associated or connected with the establishment, administration, delivery, and provision of the services pursuant to the Salary Sacrifice arrangements will be a cost to be charged to the office holder. The nominee s major functions are: To be solely responsible for the administration of the Salary Sacrifice arrangements and that all disputes regarding the administration of the Salary Sacrifice arrangements for paying authorities will be a matter for and resolved between the office holder and his or her nominee; To make distributions and/or transfers of the sacrificed amount towards Salary Sacrifice benefits; To provide reports both to office holders and paying authorities; To store all information for audit by the ATO and compliance purposes with regard to the Auditor-General of South Australia and/or the external auditor; and To respond to office holder inquiries relating to their Salary Sacrifice arrangements. The nominee must keep all details regarding any aspect of the sacrificed amounts and the Salary Sacrifice benefits for office holders participating in the Salary Sacrifice Arrangement strictly confidential and accessible only to those office holders of the nominee responsible for the administration of the Salary Sacrifice Arrangement and to the office holder s paying authority. Each office holder has the option to restructure their Salary Sacrifice benefits at a predetermined annual review date. The review date is at the anniversary of the individual s SSA. The nominee will, upon written request of the paying authority provide to the paying authority all books and records associated or related to Salary Sacrifice and the Salary Sacrifice arrangement including the Salary Sacrifice benefits selected by the office holder. This is to ensure on the part of the paying authority that, among other things, all sacrificed amounts that are distributed and/or transferred by the paying authority to the nominee are subsequently distributed and/or transferred by the nominee to the intended providers of Salary Sacrifice benefits (referred to in this document as the recipient ). Documents ordinarily required by the paying authority would include documentary evidence substantiating payment
13 13 of amounts to recipients. Such documents may be utilised by the paying authority for internal administration and for the purpose of: compliance with relevant taxation legislation and rulings; and any audit by the ATO or the Auditor-General of South Australia. Forms and Information Relevant application forms and information regarding salary sacrifice as approved by the Remuneration Tribunal will be available from the nominee appointed by the office holder (see following paragraphs). That is, the office holder's paying authority will not hold any printed material and all initial contact is to be made directly to the nominee. Office holders sacrificing solely into the Triple S Scheme may obtain the relevant forms and information from the contact person in the paying authority noted in the Offer (Schedule 1 to the Determination at the paying authority). The following forms will be able to be down loaded from the South Australian Government Intranet Site, (URL: The South Australian Government Salary Sacrifice Arrangement Information Booklet for office holders (this booklet); Service Agreement (sample only); Salary Sacrifice Agreement and relevant forms; and Salary Confirmation Form. List of Approved Nominees Office holders may only appoint their nominee from the list of approved nominees. The approved nominees are: Remunerator (Aust.) Pty Ltd. McMillan Shakespeare Ltd. Contact Details Remunerator (Aust) Pty Ltd Address: Level 8 ANZ House 13 Grenfell Street GPO Box 2954 Adelaide Adelaide SA 5001 Phone for: New customers &/or appointments OR Established customer inquiries (03) SA Govt. Customers Relations team
14 14 Facsimile: (03) Direct to SA Government Customer Relations team URL: To access the part of the Remunerator website specifically tailored for eligible office holders: 1. Click on the Client Area icon on Remunerator s home page 2. Use the following user name and password: User Name: sagov; and Password: benefits. McMillan Shakespeare Ltd Address: Level 10, 60 Waymouth Street Adelaide SA 5001 Phone for: New customers &/or appointments (08) Facsimile: (08) FOR: Direct to Office Holders Customer Relations Manager: Established customer inquiries/ Account queries Facsimile: (03) URL: To access the part of the McMillan Shakespeare website specifically tailored for eligible office holders, log on to above URL web site address and use the following user name and password: User Name: sagov; and Password: office holders Approved Services to be Provided by Nominee The office holder s nominee conducts the day-to-day administration of the office holder s Salary Sacrifice arrangement. Such administration includes: Vetting all of the office holder s documentation associated with the office holder s sacrificed amount including Salary Sacrifice benefits selected by the office holder; Arranging with the paying authority for the office holder s sacrificed amount to be distributed and/or transferred by the paying authority to the providers of Salary Sacrifice benefits;
15 15 Making all distributions and/or transfers of sacrificed amounts to the providers of Salary Sacrifice benefits; and Maintaining all record keeping functions associated with the office holder s Salary Sacrifice arrangement, providing accounting data and other information to the paying authority and office holder regarding the Salary Sacrifice arrangements and arranging for annual audit of the Salary Sacrifice arrangements. These are the services for which the nominee has been approved by Government to provide. Reports to Office Holder by Nominee It is the responsibility of each office holder participating in Salary Sacrifice to make separate and private arrangements with the nominee for the receipt of reports and the regularity of reports detailing information relevant to Salary Sacrifice, such as: A list of all payments made on behalf of the office holder as part of the Salary Sacrifice arrangement, including the creditor s name and the amount paid including FBT payments made by the paying authority; and The account balance. Customer Service Standards of Nominee As part of the approval process, nominees were contracted to commit to certain performance standards. The nominee is the office holder s legal agent by virtue of the Service Agreement and an office holder has the right to expect an appropriate level of performance. The Service Agreement contains the name and phone number of the nominee s contact person. In addition, both nominees have a local (Adelaide) manager.
16 16 Dispute Resolution Process In most cases the administrative arrangements for salary sacrifice will proceed smoothly. However, in some cases there may be delays or problems in the process. The Dispute Resolution process below is provided to assist the Office Holder and their Nominee in resolving such issues expediently. It is not a process for determining any actual or opportunity costs or losses of either party. STEP 1. Office Holder contacts Nominee Service Desk - Free call to dedicated 1800 number. If enquiry unresolved go to Step Office Holder contacts Nominee Account Manager quoting job number. If enquiry unresolved go to Step Office Holder follows up with written communication to Nominee Account Manager giving details of enquiry and quoting job number. If enquiry unresolved go to Step Office Holder provides copy of written complaint with supporting documentation to Contract Manager (DAIS) and requests assistance to resolve matter. 5. Contract Manager issues Notice to Managing Director of the Nominee. 6. Contract Manager continues dispute management process in accordance with Contract provisions. PROCESS Nominee s Service Desk logs receipt of call and issues a job number e.g. SAG #123. Enquiry resolved end of process Account Manager (AM) notes escalation against original job number and facilitates response. Enquiry resolved end of process AM notes written communication against original job No. AM acknowledges communication in writing. Enquiry resolved within agreed timeframe end of process Contract Manager communicates with AM. AM may provide Statement of Fact detailing Nominee s actions to CM. Enquiry resolved within agreed timeframe end of process Enquiry resolved within 5 clear business days or as agreed by the Contract Manager and AM end of process Enquiry resolved within 15 clear business days or as agreed by the Contract Manager and AM end of process. At any stage the Office Holder has the option of enlisting the assistance of Office of Consumer Business Affairs OCBA At any stage the Office Holder has the option of initiating legal action against the Nominee.
17 17 Contact Details: Contract Manager (DTF, Contract Services) Address: Level 10, Wakefield House 30 Wakefield House Adelaide SA 5000 Phone: (08) Facsimile: (08) Customer Focus Group The nominee will be required to provide information on the nature and number of problems arising with customers or complaints received from customers regarding the operation of the salary sacrifice arrangements. In addition, the nominee shall establish and maintain a Customer Focus Group whose role it will be to liaise with their customers and representatives for the Government for the purpose of: (a) receiving, analysing and evaluating feedback on customer service levels and standards; (b) working with the nominee to develop strategies to rectify deficiencies and to develop and implement improvements to customer service and standards; (c) encouraging a continuous improvement approach to the operation of the salary sacrifice arrangements; (d) making recommendations to the paying authority for the implementation of improvements to the salary sacrifice arrangements; and (e) providing feedback on the effectiveness of implemented improvements. The Customer Focus Group is to comprise of customers and a Government representative and be established within three months of the commencement of operations by the nominee. 7. OFFICER HOLDERS TERMS AND CONDITIONS OF THE SALARY SACRIFICE AGREEMENT Terms and Conditions The Tribunal s Determination No. 6 of 2007 sets out the terms and conditions of the Salary Sacrifice Arrangement for officer holders.
18 18 Methods of Payment It is the responsibility of the office holder to ensure that the nominee pays Salary Sacrifice benefits using: Direct bank transfers for those benefits requiring regular payment; or Cheque payments or electronic fund transfers for those Salary Sacrifice benefits that are not paid on a regular basis. The nominee must make these payments directly to the third party or as reimbursement to the employee. Costs Incurred Prior to Commencement of Salary Sacrifice Costs incurred and paid prior to the commencement of Salary Sacrifice arrangements for any Salary Sacrifice benefits will not be reimbursed by the nominee. The nominee will, however, reimburse costs associated with Salary Sacrifice arrangements and incurred but not paid for prior to commencement of the Salary Sacrifice arrangement. The nominee s fees in respect of the Salary Sacrifice arrangements cannot be claimed by the participating office holder as a Salary Sacrifice benefit item. Reimbursement of Payments in Respect to Salary Sacrifice Benefits Office holder will receive reimbursement for any payments already made in respect of Salary Sacrifice benefits once there are sufficient sacrificed amounts available to the nominee to reimburse that office holder. Office holder may incur the expense and hold their claim back until they have accumulated sufficient sacrificed amounts. Office holder should notify the nominee of a reimbursement account number, if applicable. This will result in funds being electronically transferred to the nominated bank account within 48 hours of the claim being received, provided there are sufficient funds available. Allocating Money to Salary Sacrifice Benefits When deciding to allocate money to a particular Salary Sacrifice benefit, an office holder may wish to provide an additional amount to meet any increases in the cost of that benefit during the term of the Salary Sacrifice arrangement.
19 19 No Funds = No Payment IF, FOR WHATEVER REASON, insufficient funds are held in any office holder s account to make a payment, the nominee WILL NOT make any such payment. Note: Payments will not be made until your nominee has reconciled your individual account. Annual Reconciliation At the pre-determined annual review date for the SSA, or at the termination of an Agreement, the nominee will return to the paying authority any unexpended amount held in the office holder s account. This could be for benefits not taken up, for budgeted FBT or a combination of both. This amount will then be (income) taxed accordingly by the paying authority. 8. TAXATION IMPLICATIONS Fringe Benefit Tax Reporting Requirements If the total taxable value of the fringe benefits provided as part of the salary sacrifice during a FBT year (1 April to 31 March) exceeds $1,000.00, the grossed-up value of those benefits will be recorded on your payment summary for the corresponding income year (1 July to 30 June). Other fringe benefits that the paying authority may provide also appear on the group certificate. This reporting requirement applies not only to paying authorities that are liable to pay FBT, but also applies to office holders of PBIs. The amount reported on your group certificate will not be included in your assessable (or taxable) income and it will not affect the amount of standard Medicare levy you pay. However, it will be used for the following income tests: Medicare levy surcharge; Deduction for personal superannuation contributions; Rebate for personal superannuation contributions; Rebate for contributions to spouse s superannuation; Superannuation surcharge; HECS repayment; Child support obligations; Entitlement to certain income tested government benefits; and income tax rebates. 9. SALARY SACRIFICE: APPROVED BENEFITS Appendix A, on page 24 of this Information Booklet describes the range of Salary Sacrifice approved benefits available to office holders participating in
20 20 the Salary Sacrifice Arrangement, their costing methods and the substantiation requirements for each optional salary based non-cash benefit. Note: Participating office holders are strongly recommended to seek their own independent financial advice with regard to their decision as to whether to Salary Sacrifice and their Salary Sacrifice arrangements. It is the sole responsibility of participating office holders to seek and obtain such advice and it is not a matter which has anything to do with the paying authority. The three broad types of Salary Sacrifice approved benefits available to office holders to incorporate into their Salary Sacrifice arrangement are as detailed below in Category A: Benefits that are exempt from FBT for all office holders; Category B Benefits that attract no FBT if the office holder could have claimed an income tax reduction; and Category C Benefits subject to FBT The paying authority and the office holder s nominee will require the office holder to provide documentary evidence substantiating that the office holder will properly claim a Salary Sacrifice benefit. The paying authority will properly distribute and/or transfer sacrificed amounts to the nominee for transferal and/or distribution to providers of Salary Sacrifice approved benefits selected by the office holder in their Salary Sacrifice arrangement. The costing method and the documentary material substantiating the proper claim and application of amounts to be transferred in respect of the range of optional Salary Sacrifice benefits are detailed in Appendix A, which is on page 24 of this Information Booklet: Category A Contributions to a private superannuation fund that is complying, in that, it complies with all the laws regulating superannuation, or the Southern State Superannuation Scheme (the Triple S scheme) pursuant to the Southern State Superannuation Act, notebook/lap top computer per year Briefcase Electronic diary Calculator Business software Electronic diary Taxi travel to and from work Staff fitness/gym facility (in-house)
21 21 Category B No FBT if employee could have claimed an income tax deduction Membership fees and subscriptions to professional associations Home office expenses Financial counselling fees.disability/income protection insurance premiums Self education expenses Own home mortgage payments Category C Subject to FBT Personal loan servicing from Registered Financial Institutions Private home rental School fees including HECS payments Private travel Trauma/life insurance premiums Childcare expenses by a registered provider Aged or disabled care expenses by a registered provider Private health insurance contributions Own motor vehicle through a novated lease Household utilities (gas and electricity expenses) Household rates (water and local council rates expenses) Car Parking taxation may vary in accordance with ATO rules
22 22 Contributions to Complying Private Superannuation Fund Note: The paying authority may be required by the nominee to certify for the superannuation fund, details regarding the pre-tax nature of the contribution. In which case the nominee will provide the necessary form or this form may be specific to the fund itself. The cost of the Salary Sacrifice benefit in the Salary Sacrifice arrangement is the actual cost of contributions made or to be made toward the private superannuation fund, and any additional tax charges. The fund must be a superannuation fund that complies with the Commonwealth superannuation laws. For funds managed by banks or insurance companies the provision of the fund name and plan number or policy number and, where it is an existing policy, a copy of a recent statement is sufficient. For DIY funds the office holder must provide a copy of the Fund Manager s Application to become a Regulated Fund and details of the fund bank account into which the payments are to be made. 10. WHERE TO FROM HERE -ESTABLISHING A SALARY SACRIFICE ARRANGEMENT (EXCEPT WHERE AN OFFICE HOLDERS SALARY SACRIFICE ARRANGEMENT ONLY INVOLVES SACRIFICE OF SALARY INTO THE TRIPLE S SCHEME) An office holder wishing to establish a salary sacrifice arrangement for other than sacrifice into the Triple S Scheme only must enter into a Service Agreement with a Panel Member ( the Nominee ). An offer in the form set out in Schedule 1 of the Remuneration Tribunal s Determination on Salary Sacrifice is to be duly completed and signed by the office holder and forwarded to the Paying Authority, together with a copy of the Service Agreement made between the office holder and the Nominee. The offer is to be checked by the Paying Authority and if acceptable, the Paying Authority must sign and formally issue the offer to the office holder, and notify the Nominee and the office holder in writing accordingly.
23 23 An Authorised Signatory may sign an offer on behalf of the Paying Authority. An office holder may accept an offer by completing, signing and returning to the Paying Authority an Acceptance as set out in Schedule 2 of the Remuneration Tribunal s Determination on Salary Sacrifice and providing a signed copy of the Acceptance to the Nominee. The issue of an offer, and the making of an Acceptance, in accordance with this clause operates to establish a Salary Sacrifice Arrangement on the terms and conditions set out by the Remuneration Tribunal in its Determination on Salary Sacrifice made on the 17th day of July ESTABLISHING A SALARY SACRIFICE ARRANGEMENT WHERE AN OFFICE HOLDERS SALARY SACRIFICE ARRANGEMENT ONLY INVOLVES SACRIFICE OF SALARY INTO THE TRIPLE S SCHEME An office holder wishing to establish a salary sacrifice arrangement for sacrifice of salary only into the Triple S Scheme is to duly complete and sign an offer in the form set out in Schedule 1 of the Remuneration Tribunal s Determination on Salary Sacrifice and forward it to the Paying Authority. The offer is to be checked by the Paying Authority, and if acceptable the Paying Authority must sign and formally issue the offer to the office holder in writing accordingly. An Authorised Signatory may sign an offer on behalf of the Paying Authority. An office holder may accept an offer by completing, signing and returning to the Paying Authority an Acceptance in the form set out in Schedule 2 of the Remuneration Tribunal s Determination on Salary Sacrifice. The issue of an offer, and the making of an Acceptance, in accordance with this clause operates to establish a Salary Sacrifice Arrangement on the terms and conditions set out in the Remuneration Tribunal s Determination on Salary Sacrifice made on the 17th of July 2007.
24 24 APPENDIX A - BENEFITS CONTENTS DESCRIPTION OF BENEFIT ITEMS A1 Additional Superannuation Contributions A2 Home Office Expenses A3 Membership Fees and Subscriptions to Professional Associations A4 Financial Counselling Fees A5 Disability/Income Protection Insurance Premiums A6 Self Education Expenses A7 Own Home Mortgage Payments A8 Personal Loan Servicing from Registered Financial Institutions A9 Private Home Rental A10 School Fees Including Higher Education Contribution Scheme Payments A11 Private Travel A12 Trauma/Life Insurance Premiums A13 Childcare Expenses by a Registered Provider A14 Aged or Disabled Care Expenses A15 Private health Insurance Contributions A16 Own Vehicle through a Novated Lease A17 Household Utilities [Gas and Electricity Expenses] A18 Household Rates [Water and Local Council Rates Expenses] A19 Car Parking A20 Taxi Travel to and from Work A21 Staff Fitness/Gym Facility (in-house)
25 25 DESCRIPTION OF BENEFIT ITEMS A1 Additional Superannuation Contributions Note: Office Holders to note that direct Superannuation contributions to the Triple S Scheme may be made without the use of a nominee. If you are considering salary sacrificing to superannuation you should consider the following: The contributions are not considered part of your taxable income so your Pay As You Go (PAYG) tax is reduced; Contributions are credited to your paying authority Account and, in most circumstances, the contributions will be taxed when you withdraw from the scheme; and Contributions are preserved until you reach the age of 55 or prior death or permanent disability. Super SA Salary Sacrificed amounts are acceptable by Super SA from State Pension, Lump Sum and Triple S Scheme members. However, all salary sacrificed amounts will be for payment into the Triple S Scheme only. It is also important to note that office holder contributions required to be paid into the State Pension and Lump Sum schemes cannot be directed to these schemes by way of Salary Sacrifice Contributions to be paid to either of these schemes, but must continue to be deducted from after tax income. Eligible earnings used for the purpose of calculating paying authority and elected office holder contributions are calculated before any salary sacrifice component is deducted. For example, a member with a salary of $50,000
26 26 who elects to salary sacrifice 50% will have a taxable income of $25,000 but the paying authority contribution will be 9% of the eligible earnings (9% x $50,000 = $4,500). If you contribute 4.5% or more from your after tax salary, you get an extra 1% paying authority contribution in Triple S (employer rate increases from 9% to 10%). This does not apply to salary sacrifice contributions, as these are not after tax office holder contributions. The following brief overview of the superannuation implications to office holders, and other employees 3 who elect to Salary Sacrifice has been provided by Super SA. Any office holder wishing to discuss their own personal situation in more detail or for any further information please contact Super SA, Member Services, telephone Complying Superannuation Funds Complying superannuation fund contributions may be selected as a Salary Sacrifice benefit. This can include contributions into funds on behalf of associates (e.g. immediate family members), however contributions to an associate's fund are liable for Fringe Benefits Tax. Contributions must be paid into a complying fund. Generally superannuation funds offered by banks and insurance companies are complying funds but it is the responsibility of the office holder to ensure that such is the case. If you have a DIY superannuation fund you must provide a copy of the fund manager s Application to become a Regulated Fund. Contribution payments of a pre-tax nature to complying superannuation funds (including salary sacrifice) incur a tax of fifteen per cent (15%) on the contributions paid. The tax is paid to the Australian Taxation Office by the nominated superannuation fund. A superannuation surcharge tax in respect of surchargeable superannuation contributions may also be payable. Again, office holders are strongly recommended to seek appropriate, independent advice as regards the impact of the surcharge. The cost of the Salary Sacrifice benefit in the Salary Sacrifice arrangement is the actual cost of contributions 3 subject to the definition of employees for superannuation purposes under the Superannuation Act, 1988, and subject to the definition of member under the Southern State Superannuation Act, 1994.
27 27 made or to be made toward the complying superannuation fund, and any additional tax charges. The fund must be a superannuation fund that complies with the Commonwealth superannuation laws. For funds managed by banks or insurance companies the provision of the fund name and plan number or policy number and, where it is an existing policy, a copy of a recent statement is sufficient. For DIY funds the office holder must provide a copy of the ATO certification that it is a Regulated Fund and details of the fund bank account into which the payments are to be made. Taxation: FBT Exempt (except where contributions are made on behalf of an associate e.g. the office holder s immediate family members), GST/ITC Exempt. Note: The paying authority may be required by the nominee to certify for the superannuation fund, details regarding the pre-tax nature of the contribution. In which case the nominee will provide the necessary form or this form may be specific to the fund itself. A2 Home Office Expenses Office holders may elect to have the cost of home office expenses deducted from their Salary Sacrifice arrangement. Normally FBT exempt benefits include notebook/laptop computer, briefcase, electronic diary and calculator, business software and newspapers and periodicals which are used by the employee for work related purposes. Provided the Salary Sacrifice benefit gives rise to a once-only income tax deduction to the office holder such as home office equipment, office furniture or expenditure on consumables such as stationery, these items are otherwise deductible. Expenses which are subject to depreciation (e.g. where the asset exceeds $300) are not otherwise deductible. Home office facilities which are leased by the office holder are, in normal circumstances, also able to be included in a Salary Sacrifice arrangement provided one hundred (100%) per cent of the business use can be substantiated. Examples of home office
28 28 facilities which may be leased include such benefit items as desk top computers, and communications equipment. These benefit items may be otherwise deductible for income tax purposes. Items such as heating, lighting and telephone call costs cannot be included as Home Office Expenses in a Salary Sacrifice arrangement but Gas and Electricity expenses may be salary sacrificed under A17. The cost of the Salary Sacrifice benefit in the Salary Sacrifice arrangement is the actual cost of the home office expense, and any associated FBT. The nominee must obtain from the office holder the original invoice or receipt for each expense to be paid or reimbursed and a completed expense payment claim form substantiating the business use expense that is to be or was incurred or details for regular payments. If the expense is used for business use, it might be otherwise deductible for FBT purposes. This reduces the FBT liability for the portion that would have been tax deductible if you had incurred the expense. An office holder declaration may be required to substantiate the business use where it is not 100%. Taxation: Not all home office expenditures incur GST or FBT. Treatment of GST/FBT status, ITC entitlement and grossup factor is subject to ATO rules. The appropriate FBT Gross-up factor to be applied accordingly. A3 Membership Fees and Subscriptions to Professional Associations These items must be strictly work-related. A professional association is defined as an organisation, the sole purpose of which is the enhancement of the interests of the members of a particular profession, trade or occupation.
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