5ADSalary sacrifice contributions

5AD Salary sacrifice contributions

5AD Salary sacrifice contributions

(1) The whole or part of an amount that is required to be deducted from the salary of office of a qualified person under section 5 may be paid by salary sacrifice contributions.

(2) A salary sacrifice contribution is a contribution paid in accordance with an agreement between a qualified person and the Commissioner of Police under which the person is to forgo remuneration yet to be earned and the remuneration foregone is to be applied by the employer to the amount payable for the deductions under section 5.

(3) The amount payable for a salary sacrifice contribution to meet the requirement for a deduction under section 5 is to include the following—

(a) the amount necessary (taking into account any deductions not made on a salary sacrifice basis) to meet the required deduction under section 5 (the deduction element),

(b) the amount necessary to meet any tax payable under Commonwealth taxation law in respect of the amount paid under paragraph (a).

(4) In this Act and the regulations, a reference (however expressed) to any of the following is taken to include a reference to the deduction element of a salary sacrifice contribution in accordance with an agreement under this section—

(a) a deduction from the salary of office for the purposes of section 5,

(b) a contribution by a contributor.

(5) In this Act and the regulations, a reference (however expressed) to an employer contribution or an employer-financed benefit does not include a reference to a salary sacrifice contribution or any part of a benefit financed by a salary sacrifice contribution.

(6) This section has effect despite any other provision of this Act.

s 5AD: Ins 2007 No 25, Sch 2 [7].