Definitions for "Salary Sacrifice"
An arrangement between an employer and employee which involves the employee substituting part of their pre-tax salary for an alternative benefit, such as increased superannuation contributions paid by their employer.
The portion of pre-tax salary of an employee that is given up in exchange for additional contributions by the employer to the employee's superannuation.
for the purposes of assessing the amount a bankrupt will be required by law to contribute towards their bankruptcy, salary sacrifice arrangements with an employer are taken into account. This could be schools fees paid by an employer or additional superannuation paid instead of salary.