This Salary Sacrifice Agreement is an agreement for an arrangement between an employer and an employee, whereby the employee agrees to forego part of their future entitlement to salary or wages in return for the employer providing them with non-cash benefits of a similar value.

The Salary Sacrifice Agreement must be made prior to receiving or becoming entitled to receive the benefits. Past remuneration cannot be subject to salary sacrifice.

This Salary Sacrifice Agreement includes the following provisions:

1. Benefits to be Sacrificed
2. Commencement of This Agreement
3. Termination of This Agreement
4. Suspension of This Agreement
5. Review of This Agreement
6. Financial Advice
7. Administration of Arrangements
8. Reconciliation of Salary Sacrifice Value and Costs
9. Confidentiality
10. Release and Indemnity
11. Definitions

LAWLIVE recommends: This is a complex document which involves the creation of complex legal rights and obligations and may give rise to various taxation and liability consequences. The best way to use this document is to complete it, print it out, print out all of the checklists that apply to it and all other LawLive information that relates to this type of document. When you have done this, LawLive recommends you read it carefully and instruct lawyers to assist you in the finalisation of the document and that you take tax advice from your accountant or tax adviser as to any income tax, capital gains or GST consequences.