Salary packaging (also known as salary sacrifice or salary exchange) is a term used to refer to the inclusion of employee benefits (also called fringe benefits) in an employee remuneration package in exchange for giving up part of monetary salary. Such arrangements are entered into most commonly if there are tax or other benefits to be derived by the employer or employee from the arrangement.
Read more about Salary Packaging: Salary Sacrifice in The United Kingdom, Salary Packaging in Australia
Famous quotes containing the word salary:
“But compared with the task of selecting a piece of French pastry held by an impatient waiter a move in chess is like reaching for a salary check in its demand on the contemplative faculties.”
—Robert Benchley (1889–1945)