Salary sacrifice

[mandytuck]

Hi, does anybody know what salary sacrifice is and how it works? Does it apply to us on a 457 or only to perm. res. visa?

Hi Mandy

My unsderstanding of salary sacrifice is not making as much here as in Uk especially on a 457 visa as we are one one (might be wrong). But swings and roundabouts hun lifes better out here sunshine etc etc. Hubbys wages due to go up when we get perm visa.

Janette

[juderay]

Check out this link - Salary sacrifice arrangements for employees

[mandytuck]

Thanks for that, I'll try to make sense of it.

[Lazy Cow]

My OH gets salary sacrifice and it's brilliant! As we are permanent residents/ citizens I couldn't help with specifics and I'm sure the website will help more than I can.

However, as I understand it, it's an incentive for people to work for charity/public organisations that cannot offer rates that are as high as private/money making places can. Money gained via SS may be put straight against mortgage /car purchases/ credit cards whatever from your salary. OH's wage slip shows the money as a stoppage, then the money goes to the company handling the SS. (There are a few such companies, and yes, we do pay them!)At the end of the financial year, the money gained is taxed differently so in effect you have earned more. Does that make any sense?

LC