Salary sacrifice into superannuation a. Subject to the following conditions, an employee may apply to the CWT to salary sacrifice any part of his/her salary (including Award or Agreement based salary or wages) to make additional contributions to the Fund: • As salary sacrifice is a complex matter, it is the employee's responsibility to seek advice and fully understand all implications of salary sacrifice before seeking to enter into this arrangement. • The employee's substantive gross salary for all purposes, including but not limited to superannuation, annual leave, annual leave loading and long service leave, will be the pre- sacrificing salary. • Any such arrangement will be by mutual agreement between each individual employee and the CWT. • The application must be in writing and detail the percentage of salary to be salary sacrificed, together with a statement that the "cash" component is adequate for his/her ongoing living expenses. • The employee may rescind their agreement to salary sacrifice, provided one month's notice in writing is given to the CWT. • The employee will bear the responsibility and costs associated with taxation and any other matters in respect of the salary sacrifice arrangements. This means that contributions made to the Fund will be adjusted (at the employee's cost) to take account of taxation payable in relation to those contributions. • Salary sacrifice contributions will be treated as the CWT contributions and may be subject to the superannuation surcharge and are likely to be preserved.
Salary sacrifice into superannuation. 22.1 An Employee may make a written request to the Company to salary sacrifice a proportion of their Ordinary Rate of Pay into their nominated superannuation fund. Such a written request will be approved by the Company.
Salary sacrifice into superannuation. 30.1 Where it is agreed between the Employer and the employee that an employee wishes to have their pay salary sacrificed for additional superannuation, the Employer will comply with the employee’s request within two weeks. Details of any salary sacrifice arrangements shall be reflected on the employees pay slip.
Salary sacrifice into superannuation. An employee can choose to make employee contributions to the nominated fund by way of salary sacrifice as provided for by the salary sacrifice provisions of the trust deed of the nominated fund and in compliance with legislation.
Salary sacrifice into superannuation. Employees shall be permitted to elect to salary sacrifice their gross wages, including penalties and allowances, into an approved superannuation fund, subject to compliance with current Superannuation and Taxation Legislation. Where such an election is made by the employee, and it is agreed by the Employer, the employee's salary shall be reduced by the elected amount subject to the following provisos:
Salary sacrifice into superannuation. Employees may elect to have the Company make superannuation contributions on their behalf from their before-tax income into their Mine Wealth + Wellbeing (or any other approved fund nominated by the Employee) account. This payment cannot be offset against the Company’s obligation to provide the full superannuation contribution. Employees may elect to salary sacrifice their Bonus or part thereof into their Mine Wealth + Wellbeing (or any other approved fund nominated by the Employee) account. Any salary sacrifice election will be governed by the rules of the selected superannuation fund, legislation and Company policy.
Salary sacrifice into superannuation. Employees may elect to have the Company make superannuation contributions on their behalf from their before-tax income into their AUSCOAL (or any other approved fund nominated by the Employee) account. This payment cannot be offset against the Company’s obligation to provide the full superannuation contribution. Employees may elect to salary sacrifice their Bonus or part thereof into their AUSCOAL (or any other approved fund nominated by the Employee) account. Any salary sacrifice election will be governed by the rules of the selected superannuation fund, legislation and Company policy.
Salary sacrifice into superannuation. The parties agree that the choice of fund to which superannuation contributions will be paid shall be either The Aviation Industry Superannuation Trust (TAIST), or the Hawker Pacific Superannuation Plan which are complying superannuation funds approved under the Superannuation Industry Supervision Act 1992 (Commonwealth) for receipt of such contributions. The parties agree that where an employee elects to salary sacrifice part of their wage for provision of retirement benefits to superannuation, this part will be deemed to be part of their wage detailed in Clause 7) Rates of Pay, of this Agreement. This provision will not in any way alter the contribution required by the Company which will be made under the provisions required by the Superannuation Guarantee Act Legislation 1992 (Commonwealth) and will not operate so as to cause an employee to suffer a reduction in superannuation entitlements. The following provisions apply regarding this salary sacrifice arrangement.
Salary sacrifice into superannuation. (a) Subject to the following conditions, an employee may apply to the CWT to salary sacrifice any part of his/her salary to make additional contributions to the Fund: • As salary sacrifice is a complex matter, it is the employee's responsibility to seek advice and fully understand all implications of salary sacrifice before seeking to enter into this arrangement. • The employee's substantive gross salary for all purposes, including but not limited to superannuation, annual leave, annual leave loading and long service leave, will be the pre-sacrificing salary. • Any such arrangement will be by mutual agreement between each individual employee and the CWT. • The application must be in writing and detail the percentage of salary to be salary sacrificed, together with a statement that the "cash" component is adequate for his/her ongoing living expenses. • Any agreement may only apply to future salary arrangements and will not operate retrospectively. • The employee may rescind their agreement to salary sacrifice, provided one month's notice in writing is given to CWT. • The employee will bear the responsibility and costs associated with taxation and any other matters in respect of the salary sacrifice arrangements. This means that contributions made to the Fund will be adjusted (at the employee's cost) to take account of taxation payable in relation to those contributions. • Salary sacrifice contributions will be treated as CWT contributions and may be subject to the superannuation surcharge and are likely to be preserved. • The employee acknowledges and understands that his/her take home pay will be reduced.
Salary sacrifice into superannuation
