salary sacrifice

Thanks Yvonne-I have the same password for all of my cards to make it easier to remember. I have used the community sector banking card for salary sacrifice and it is very easy and does not really require any 'management' There is also another card for use for entertainment which can be claimed up to around $5K via Salary sacrifice. I hear that you prefer the credit card option, what if the proposal was that 'Jeder's preferred method for Salary Sacrifice is via Community Sector Banking as it minimises administration for the organisation. Jeder will also consider other indivdual arrangements that do not create additional administration.'

Sounds like a great idea, Kerry@kerry63 would you be available to help make sure i understand and meet Jeder's requirements at the admin end?

This is the where you can find the forms and information for the B-Packaged Community Sector Banking Salary Sacrifice card through the Bendigo Bank. https://www.communitysectorbanking.com.au/banking/b-packaged
Dont' forget to include your certified ID with your application.
You will need to include Jeder's cutomer number. It is 34778571. For any direct debits that you want taken from this account (eg for loans), you will also need to lodge the periodic payment form.At this stage we are not registered for the B-Entertainment or B-optimised cards. could all coaches please also share this info with members? @jasonemmins @lynnlennon @rachaeleyles @michaelakennedy @lisazulfiqar

Thanks @kerry63 for this- will share with the COSSIE's down South.
I am also going to put up a proposal that the board would like everyone to consider around Salary Sacrifice/Fringe Benefits. I should have this done by the end of the weekend.

The process with Community Sector Banking is a bit is clunky, so here are some instructions:

Post the completed Community Sector Banking form to Michaela along with a certified copy of your ID, she will authorize and forward it to them
We do not currently offer B-entertained, so only select B Packaged
They then send the card to Michelle who will forward it to you, so please let her know your postal address when you send her the application.

For the Jeder Salary Sacrifice form, you will need the details of your Community Sector Banking account to be able to fill this in.

The ATO limit for this year is $15900.

Kerry can this amount be lower if you want or is it set at 15900. And am i correct in understanding this is reset at 1 April each year, amount varies depending on ATO set amount?

The limit is 15900-it can be anything from zero to this amount

Is the date part correct , so if i take that amount now do i have to have paid back by 30 March

yep-it is the FBT year. You don't pay anything back, you need to have spent all of the money you have put on the card within each FBT year. an easy way to do this is to either pre pay a bunch of bills, or to buy gift cards.

We have circulated the details/process for salary sacrifice and have had a request to consider one other option other than using the Community Sector Banking Card. The proposal was to also include an option of having a payment made into a loan/lease account to an organisation. The decision to go with the card was to ensure compliance and reduce admin. if we were to offer the other options how would we ensure these two things? moving towards a proposal after discussion.

Why are we considering another proposal for Salary Sacrifice? We have consensus that we will only use Community Sector Bank for all Salary Sacrifice arrangements- I am a little confused as to how this discussion is continuing?

Hi Jason, yes good point, and I did not feel that it was my decision to make alone, so put it up for discussion.

@jasonemmins I'm a unclear when the proposal for CSB as the only Salary Sacrifice option was discussed it was a decision last year that it was the preferred but not the only option. As this directly impacts my situation as I currently Sal Sac to my mortgage which is compliant and doesn't add any cost to admin that I'm aware of. I did discuss with @kerry63 being able to continue my arrangement hence her question above. I do not want to have to change what I have been doing for years or open a CSB account.

I agree, my Sal Sac pays my rent. This has been set up since the beginning.

What is the extra work it adds to admin?

I am happy with the card. what ever reduces the fees for the organisation

The individual pays the fees, not Jeder.

I am not happy to use Community Sector Banking as I've had my salary sacrifice set up to my mortgage since joining Jeder and don't believe it adds any complexity to the system.

My question is what do we need to have in place to ensure compliance if we continue to offer this as an alternative? In the past we have not always done Salary Sacrifice correctly. For example, in some instances people have been paid directly into their bank account. This is a risk to the organisation, not the indivdual.
Do we need a copy of the loan agreement for example, or for rent:
1. A copy of the Rental Agreement OR
2. A Statutory Declaration
3. Notice from Landlord with bank account details (If payment to be made direct) (this is from another org's process)

Some payments take more admin input to process, eg car leasing arrangement tend to be more complex. Also if there is multiple payments required for various things, then the card is the better option from an org point of view. If anyone has any other suggestions, I can include them in a proposal and put it up here to all members.

I don't know what we need in place to ensure compliance? I think that's the first question that needs a legal answer...

I abstained from the last proposal because the proposal asked if people wanted to move to the card (by choice) and I said no, but was happy for others to...