Salary Sacrifice Clause Samples

Salary Sacrifice. 42.1 Salary Sacrifice for employer Superannuation Under this Agreement an employee may choose to sacrifice salary for employer superannuation contributions into a compliant superannuation fund. The arrangement is available to all employees and participation is at the discretion of an individual employee. Under the arrangement the following conditions will apply: (a) an employee who currently contributes to the CSS is not able to salary sacrifice into that scheme, but can salary sacrifice into a complying superannuation fund; (b) an employee who currently contributes 6% to the NTGPASS may salary sacrifice into the NTGPASS or another complying superannuation fund; (c) an employee who currently has his or her employer superannuation guarantee contributions paid to a ‘Fund of Choice’ (employed after 10 August 1999) may salary sacrifice into that ‘Fund of Choice’ or another complying superannuation fund. (d) While there is no limit to the amount an employee can salary sacrifice to superannuation, the amount sacrificed plus any other employer contributions, will be assessed against the Commonwealth concessional contribution cap relevant to their age. Contributions that exceed the cap will be taxed at the highest marginal tax rate plus Medicare levy. (e) The arrangement will operate at no additional cost to the Northern Territory Government, either directly or indirectly. (f) The arrangement will not operate to reduce employer superannuation contributions for employees that would ordinarily be payable by the Northern Territory Government in the absence of salary sacrifice arrangements. (g) When an employee who is a member of the CSS or NTGPASS enters into a salary sacrifice for employer superannuation arrangement, the employee’s annual rate of salary for superannuation purposes will remain at the rate set out in this Agreement (that is, the salary sacrifice arrangement has no effect on the employee’s annual rate of salary for superannuation purposes).

Salary Sacrifice. Employees may sacrifice their pre-tax earnings, subject to such arrangements being made for legitimate purposes such as additional superannuation contributions. The amount of salary sacrifice being deducted from pre-tax earnings shall be deducted from gross earnings with each pay period. Any such arrangements must be requested, varied or amended in writing, providing no les than one months notice to the Company. A Salary Sacrifice Request Form is attached as a schedule to this Agreement for this purpose. The Company recommends that employees seek independent financial advice prior to entering into salary sacrifice arrangement. The amount of any salary sacrifice income requested must be a fixed sum, without variation from one pay period to the next. The company shall implement employee requests to commence salary sacrifice arrangements at four (4) times a year, on the first full pay period on or after the 1st July, 1st October, 1st January and 1st April. Where adverse tax and/or superannuation changes occur, the Company or employee may terminate these salary sacrifice arrangements. Where a decision to terminate is made, employees will be given one month’s notice in writing.

Salary Sacrifice. (i) The employer and an employee may agree to enter into a salary sacrifice arrangement, which allows an employee to receive a part of their pre tax salary as a benefit rather than salary. Such agreement shall not unreasonably be withheld. (ii) Benefits that may be salary sacrificed include, but shall not be limited to, child care facilities operated by the employer on its premises; and additional superannuation and motor vehicles supplied by the employer under lease back arrangements where the amount to be salary sacrificed for leaseback of the employer’s motor vehicle is that part of the lease back fee that exceeds the employer’s fringe benefit tax liability. (iii) The value of the benefits shall be agreed between the employer and employee and shall include fringe benefits tax where applicable. (a) The salary sacrifice arrangement, including the benefits to be salary sacrificed and their value including fringe benefit(s) tax, shall be in writing and signed by both the employer and the employee. (b) The employee may request in writing to change the benefits to be salary sacrificed once each year and the employer shall not unreasonably refuse the request. (v) The employee’s gross pay is their pre tax ordinary pay less the values of the salary sacrifice benefit including fringe benefit(s)

Salary Sacrifice. The Employer and Employee/s may enter into a salary sacrifice arrangement whereby, a proportion of the Employee/s’ weekly wage shall be paid into a complying superannuation fund.

Salary Sacrifice. An Employee may make an agreement with the Employer for salary sacrifice.

Salary Sacrifice. The Employees will have the option of a salary sacrifice as a condition of their employment.

Salary Sacrifice. In addition to the requirements of this Agreement, an Employee may choose to salary sacrifice some or all wages into superannuation. The amount may be adjusted by the Employee on the first pay day on or after 1 September each year if desired.

Salary Sacrifice. 2.5.1 An employee may salary sacrifice a portion of their salary to any benefit which does not attract a fringe benefit tax liability. 2.5.2 Where a salary sacrifice arrangement is entered into, it will be recorded in writing. 2.5.3 Where such an arrangement is entered into, the employee’s total salary shall be reduced by an amount equivalent to that nominated in the arrangement. 2.5.4 The employee’s salary used to calculate superannuation contributions, leave loading, annual leave or vacation leave, long service leave, severance and termination payment entitlements, will be the gross base salary in accordance with this agreement – i.e. the wages the employee would receive if not taking part in a salary packaging arrangement. 2.5.5 Salary packaging arrangements may be altered once per annum. 2.5.6 The employer reserves the right to outsource the administration of salary packaging arrangements to a provider appointed by the employer. 2.5.7 The employer will meet the cost associated with salary sacrifice to superannuation. 2.5.8 The employee may be required to meet the cost of salary sacrifice arrangements to benefits other than superannuation.

Salary Sacrifice. Where it is agreed between the Company and the employee that an employee wishes to have their pay salary sacrificed for additional superannuation, the Company will comply with the employee’s request within two weeks. Details of any salary sacrifice arrangements shall be reflected on the employees pay slip. Employees who elect to sacrifice a proportion of their wages to the C+BUS or CONNECT superannuation fund or may request that the Company make deductions from gross income. These arrangements shall be altered only twice a year if requested. In order to gain the benefit from making superannuation contributions from gross earnings salary sacrifice to superannuation may be agreed between the parties and must legally fulfil SGAA and Australian Taxation Office (ATO) requirements. Any salary sacrifice arrangements entered into between the parties shall: • not disadvantage the employee or the Company in any way, • be effective only on the written authority of the employee, • immediately be stopped at the written request of the employee • have a statement provided to the employee detailing the salary sacrifice at the end of each financial year, • not reduce or alter the Company’s superannuation contribution calculation or obligation to pay superannuation under SGAA or SGCA, • not reduce the employee’s hourly all-purpose rate of pay for the purposes of Award entitlements (including accrued entitlements and the application of penalty rates), • immediately be reviewed in the event of any change to any relevant Act(s) or ATO rulings. Where an employee elects to salary sacrifice, the employee may receive less actual pay than their classification rate specified in this Agreement (ie. the classification rate less the salary sacrifice amount).