Nominated Benefits & Personal Details – Terms, Agreements, Acknowledgements and Consents
I understand that if I cannot provide proof of a regular GST free payment and the amount of that payment then Type 1 gross up rate will be used resulting in an overall lower tax free salary sacrifice threshold. I understand that Salary Benefits are offered to me whilst THC holds an FBT exemption only.
Should this exemption be revoked/altered by the tax office changes to my net income will result. THC will not be responsible for any loss of net wages which may be incurred as a result of any legislative changes.I also undertake not to seek additional government or other benefits as a result of my reduced taxable income under this arrangement.
I understand that the amount received in salary benefits will be disclosed on my payment summary at 30 June grossed up by a rate directed by the tax office. While the salary benefit will reduce my taxable income for income tax purposes it may affect other government benefits or charges such as child support, Medicare surcharge levy, HECS debt repayment etc.
