The Salary Sacrifice Agreement Template – Fair Work – Australia is offered in multiple formats including PDF, Word, and Google Docs. These options are both customizable and ready for printing, providing you with flexibility to suit your requirements.
Salary Sacrifice Agreement Template Fair Work – Australia Editable | PrintableSample
1. Parties Involved 2. Purpose of the Agreement 3. Benefits Included 4. Employee Contribution 5. Tax Implications 6. Duration of the Agreement 7. Termination Conditions 8. Confidentiality Obligations 9. Governing Law 10. Acknowledgment of Understanding
PDF
WORD
Examples
[Employee’s Name]
[Employee’s ID]
[Employee’s Address]
[Employee’s Phone]
[Employee’s Email]
[Employer’s Name]
[Employer’s ABN]
[Employer’s Address]
[Employer’s Phone]
[Employer’s Email]
This Salary Sacrifice Agreement (“Agreement”) outlines the terms under which [Employee’s Name] agrees to sacrifice a portion of their salary for specific benefits, effective from [Start Date].
The purpose of this Agreement is to enable the Employee to receive certain benefits, such as [specific benefits such as a car, superannuation, etc.], through salary sacrifice, thereby increasing their overall remuneration package.
The Employee agrees to sacrifice [amount or percentage]% of their gross salary, which will be redirected to the designated benefits provider or account.
The Employer agrees to deduct the agreed salary sacrifice amount from the Employee’s gross salary and make the necessary payments as outlined in this Agreement.
The Employee acknowledges that benefits received through salary sacrifice might have taxation implications and that they should seek independent financial advice regarding the impact on their take-home pay and net tax position.
Either party may terminate this Agreement by providing [Notice Period] written notice to the other party. Upon termination, the salary sacrifice arrangement will cease, and the Employee’s salary will revert to its original amount.
This Agreement is governed by the laws of Australia and complies with the Fair Work Act 2009.
[Employee’s Signature]
[Employee’s Name]
[Employer’s Signature]
[Employer’s Name]
[Employee’s Name]
[Employee’s ID]
[Employee’s Address]
[Employee’s Phone]
[Employee’s Email]
[Employer’s Name]
[Employer’s ABN]
[Employer’s Address]
[Employer’s Phone]
[Employer’s Email]
This Agreement defines the terms of salary sacrifice between [Employee’s Name] and [Employer’s Name], effective from [Start Date], to provide specific benefits that enhance the Employee’s remuneration package.
The Employee may choose to sacrifice a portion of their salary towards the provision of [specific benefits such as additional superannuation contributions, work-related items, etc.] as mutually agreed.
The Employee agrees to sacrifice [amount or percentage]% of their gross salary, which will be redirected towards the selected benefits outlined in this Agreement.
The Employer will adjust the Employee’s gross salary accordingly and document the salary sacrifice arrangement in the Employee’s pay records.
The Employee is advised to understand the tax implications associated with salary sacrifice and should seek independent financial advice to ensure suitable financial planning.
Any changes to this Agreement must be made in writing and mutually agreed upon by both parties, ensuring compliance with Fair Work regulations.
This Agreement may be terminated by either party providing [Notice Period] written notice, at which point the salary will revert to its previous amount without the salary sacrifice arrangement.
This Agreement shall be governed by the laws of Australia, in accordance with the Fair Work Act.
[Employee’s Signature]
[Employee’s Name]
[Employer’s Signature]
[Employer’s Name]
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