Salary Sacrifice Provisions Sample Clauses

Salary Sacrifice Provisions. (i) An employee may request that the Company make additional contributions to the superannuation fund to which employer contributions are being made on the employee’s behalf in accordance with clause 10.8. These contributions are distinct from and in addition to employer contributions as defined at sub-clause (b). For the purposes of this clause, these additional contributions will be known as “Salary Sacrifice Contributions”.
Sample 1
AutoNDA by SimpleDocs
Salary Sacrifice Provisions. By written mutual agreement between the individual employee and the Company, the employee may elect to divert a portion of their wages to non cash items. For employees accessing this option the combined value of the adjusted wage and the non cash item(s) is equivalent to the employee's actual wage entitlement, and therefore the diversion of the wage to non cash item(s) shall not be interpreted as an underpayment of the employee's wage. The written agreement shall clearly specify the proposed arrangements, including the agreed quantum value of any non wage item, the liability for taxation obligations (including but not limited to FBT, GST and PAYG) and administration expenses (if any) which may arise from the arrangement, and the requirements for the termination of the arrangements. The emp loyee shall be afforded the opportunity to take advice on the detail of any proposed written agreement prior to its execution. In the event of an employee utilising this option for the purpose of making superannuation contributions, the amount available will be subject to the contribution being tax deductible to the Company. Except where required by legislation, superannuation contributions made under this clause can only be paid to the Xxxxxxx Xxxxxxx Superannuation Fund and the Australian Retirement Fund (ARF).
Sample 1
Salary Sacrifice Provisions. An employee may request that the company make additional contributions to the superannuation fund to which employer contributions are being made on his or her behalf as defined in Clause 4 of this award. These contributions are distinct from and in addition to employer contributions as defined at Clause 4. For the purposes of this agreement, these additional contributions will be known as "Salary Sacrifice Contributions". All arrangements for Salary Sacrifice Contributions are subject to the company’s approval. On each occasion on which the company makes a salary sacrifice contribution, that employee’s gross earnings shall be reduced by an amount equal to the salary sacrifice contribution. For the purposes of this sub-clause "occasion" means the calculation of the payroll in accordance with the applicable pay week. No employee may have Salary Sacrifice Contributions at a level in excess of 50% of their pre-Salary Sacrifice Contribution gross weekly all-purpose rate of pay. Employees may arrange to have Salary Sacrifice Contributions made at a set weekly dollar amount; or as a percentage of fixed or variable (overtime) earnings. Other than in pressing personal circumstances, an employee may not vary their Salary Sacrifice Contributions more than 4 times per annum. RECORD OF SALARY SACRIFICE CONTRIBUTION ARRANGEMENTS Where an employee elects to enter into a Salary Sacrifice Contribution arrangement, the details of the arrangement will be recorded and circulated as per the form. CHANGES TO APPLICABLE LAW In the event that the law governing taxation and superannuation changes in such a way as to render the Objective of this award unattainable or ineffective or, in the opinion of the company, inappropriate, the company and the unions will meet to discuss the matter; and may vary or terminate this agreement as they see fit.
Sample 1
Salary Sacrifice Provisions. An employee may request that the company make additional contributions to the superannuation fund to which employer contributions are being made on his or her behalf as defined in Clause 4 of this award. These contributions are distinct from and in addition to employer contributions as defined at Clause 4. For the purposes of this agreement, these additional contributions will be known as “Salary Sacrifice Contributions”. All arrangements for Salary Sacrifice Contributions are subject to the company’s approval. See Attachment 5 for form. On each occasion on which the company makes a salary sacrifice contribution, that employee’s gross earnings shall be reduced by an amount equal to the salary sacrifice contribution. For the purposes of this sub-clause “occasion” means the calculation of the payroll in accordance with the applicable pay week. No employee may have Salary Sacrifice Contributions at a level in excess of 50% of their pre-Salary Sacrifice Contribution gross weekly all-purpose rate of pay. Employees may arrange to have Salary Sacrifice Contributions made at a set weekly dollar amount; or as a percentage of fixed or variable (overtime) earnings. Other than in pressing personal circumstances, an employee may not vary their Salary Sacrifice Contributions more than 4 times per annum.
Sample 1
Salary Sacrifice Provisions. 4.3.1 By written mutual agreement between the individual employee and the company, the employee may access salary sacrifice provisions. In the event of an employee accessing this option, the reduction in their wages due to the salary sacrifice will not be deemed as underpayment of wages.
Sample 1
Salary Sacrifice Provisions. (a) A permanent full time employee may elect to salary sacrifice into Superannuation an amount of pre-tax wages to which the employee is otherwise entitled under this Agreement providing that it is not contrary to current legislation or any changes made during the life of the Agreement.
Sample 1
Salary Sacrifice Provisions. NRMA Motoring and Services employees may elect to salary sacrifice part of their pre-tax earnings in line with the NRMA Motoring and Services packaging policy, as published from time to time. The employee will bear the cost of any taxation resulting from the contributions under this Clause. NRMA Motoring and Services is under no obligation to pay additional employer contributions as a result of a decision of a NRMA Motoring and Services employee to make an election under this Clause. NRMA Motoring and Services will not be liable:
Sample 1
AutoNDA by SimpleDocs

Related to Salary Sacrifice Provisions

  • 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 ARRANGEMENTS 34.1 Employees covered by this Agreement will have access to salary sacrifice arrangements in addition to the compulsory arrangement detailed above. The requirements of any such arrangements shall ensure that:

  • Salary Scale The salary scale applicable to Employees shall be set out hereinafter in the Wage Schedule.

  • Salary Sacrifice to Superannuation (a) An employee can elect to sacrifice a portion of salary to superannuation. Such election must be made prior to the commencement of the period of service to which the earnings relate and be in accordance with relevant legislation.

  • Salary Scales 1. In the settlement of the Kindergarten Teachers, Head Teachers and Senior Teachers' Collective Agreement 2000-2002 the parties committed themselves to the implementation of pay parity for kindergarten teachers. Senior teacher K3 and K4 salaries were benchmarked to the base salary (excluding the roll-based supplementary component) of a primary U2 and U3 principal respectively.

  • Salary/Wages Grantee shall list personnel involved, position classification, direct salary rates, and hours spent on the Project in accordance with Attachment 3, Grant Work Plan in their documentation for reimbursement or match requirements.

  • Salary Grids Classifications and salary rates are attached as Schedule "A" and forms part of this Collective Agreement. The years referred to in the salary schedules shall mean years of continuous service with the Employer in the designated classification, plus the applicable allowances under 23.04. Years of service on the new grid may not relate to the employee’s service level as a result of April 1, 2007 harmonization of the grids and blending the bargaining units.

  • Salary Maintenance (a) Entitlement to salary maintenance An Affected Employee who is successfully redeployed will be entitled to salary maintenance where the Affected Employee’s pay is reduced because the new role:

Time is Money Join Law Insider Premium to draft better contracts faster.