Griffith University recognises the value to staff members of flexible remuneration which can be provided by way of salary packaging. It is possible for staff members to "sacrifice" part of their cash salary in return for benefits such as contribution to superannuation or lease of a motor vehicle.
Salary packaging is made available through the University's Certified Agreements. Participation is voluntary and staff members are free to choose benefits that best suit their individual needs. Staff members who are employed on a continuing appointment or fixed term appointment with greater than twelve months remaining on the contract are eligible to take part in the salary packaging scheme. Casual staff members, academic visitors and students are not eligible.
Special eligibility conditions apply in relation to salary packaging of a motor vehicle.
The University, may at its discretion, decline any requested salary packaging arrangement of an individual if it believes it is not an effective salary packaging arrangement. The University also reserves the right to change salary packaging arrangements in the event of changes to taxation or associated legislation. If legislative or other changes result in an increased cost of salary packaging to the University, the University may elect to discontinue salary packaging.
Salary packaging arrangements for Superannuation, University Parking and University Childcare will be administered by Griffith University.
The University strongly recommends that a staff member seeks independent financial advice before entering into salary packaging arrangements. Because individual financial and personal circumstances differ, and due to the complex nature of taxation issues, such advice cannot be offered by the University.
Any fees associated with obtaining financial advice will be at the cost of the staff member but can be salary packaged.
Note: Changes to taxation legislation including, but not limited to, changes to Income Tax, FBT and GST can impact on benefits packaged. Staff members need to discuss these risks with their own independent financial adviser as the University does not accept any liability for costs incurred as a result of such changes for staff who choose to package their salary. Reportable Fringe Benefits will be recorded on payment summaries (group certificates) and may affect income tests for government benefits such as HELP, SFSS, child support, child care benefits or the Medicare levy surcharge.