Work Related Items Salary Sacrifice - Terms & Conditions

Please read the terms and conditions carefully regarding your salary sacrifice arrangement.

1. The consultant agrees that he or she has purchased the item and have paid all costs associated with the purchase prior to requesting the salary sacrifice.
2. A valid tax invoice must be provided for the item at the time of the salary sacrifice request.
3. Where the item being salary sacrificed is an exempt benefit, the consultant declares that the item purchased is predominantly for work purposes and declares that this is the only claim of this item for the current Fringe Benefit Tax (FBT) year. Where the item being salary sacrificed is an otherwise tax-deductible item, the consultant declares that the item is being used for earning assessable income and had the item not been salary sacrificed by their employer the consultant would have been able to claim a 100% tax deduction. 
4. If Peoplebank or the consultant becomes liable for any additional obligations as a result of the salary sacrifice arrangement, including, but not limited to, fringe benefits tax, the consultant will indemnify Peoplebank against any such obligation.
5. The consultant acknowledges, and accepts, that Peoplebank has no liability for the consultant’s taxation or any other outcomes resulting from entering into this arrangement.
6. The arrangement will immediately terminate if any law of the State, Territory or Commonwealth is breached by its operation.
7. Should the contract arrangement cease prior to the commencement of the salary sacrifice arrangement, the salary sacrifice agreement will be classified as null and void. 
8. The consultant acknowledges that it is his, or her, responsibility to seek independent financial advice, before entering this arrangement.