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. 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. Salary Sacrifice for Employer Superannuation Under this Agreement an employee may choose to sacrifice salary for employer superannuation contributions into a complying 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 apply:
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).
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.
Salary Sacrifice. The Employees will have the option of a salary sacrifice as a condition of their employment.
Salary Sacrifice. Upon written request of the employee, the Company will provide salary sacrifice arrangements to employees provided the salary sacrifice instruction is and remains lawful under legislation, is consistent with the requirements of the Australian Taxation Office and is limited to additional employee contributions into superannuation and or income protection insurance to top up or increase benefit levels. An employee may request in writing a maximum of two variations to their salary sacrifice arrangements per year. These variations will be effective from the next contributing month. These contributions can be terminated immediately by the written request of the employee.
Salary Sacrifice. 43.1 Any salary sacrifice will require approval by Australia Post and must comply with taxation and other relevant laws and Australia Post policies and procedures and, where salary sacrifice is made to a superannuation fund, the Trust Deed requirements of that fund. Details of any salary sacrifice arrangements must be in writing and signed by the employee and Australia Post.
Salary Sacrifice. Employees covered by this Agreement may elect to take an amount of up to 25% of base salary in the form of other benefits approved by Australia Post and on such terms and conditions as determined by Australia Post.
