Salary Sacrifice to Superannuation definition

Salary Sacrifice to Superannuation is an amount or percentage of the gross base salary as agreed between the Employee and the Employer, which is paid towards the Employee’s superannuation as an additional payment to Occupational Superannuation. Such additional payment may be directed by the Employee into a legitimate superannuation fund of their choice.
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Salary Sacrifice to Superannuation is an amount or percentage of the Employee’s gross earnings per pay cycle (based on the Basic Periodic Rate of Pay only and excluding overtime, penalty rates, allowances and other such loadings), which the Employee voluntarily contributes towards their own superannuation, in addition to compulsory contributions made by HealthCube. Such percentage or amount must be mutually agreed to by the Employer to ensure Salary Sacrifice arrangements are legislatively compliant. Salary sacrificed payments may be directed by the Employee into a legitimate superannuation fund of their choice.
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Salary Sacrifice to Superannuation means the option of making additional superannuation contributions by electing to sacrifice a portion of the gross earnings (pre-tax dollars) under this award. This will give the effect of reducing the taxable income by the amount for salary sacrifice.
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Examples of Salary Sacrifice to Superannuation in a sentence

  • Remuneration Packaging and Salary Sacrifice to Superannuation Remuneration Packaging MUH or the employee will not be compelled to enter into a remuneration packaging arrangement.

  • Salary Sacrifice to Superannuation Salary Sacrifice to Superannuation means the option of making additional superannuation contributions by electing to sacrifice a portion of the gross earnings (pre-tax dollars) under the Agreement.

  • Clause 37 – Salary Sacrifice to Superannuation This clause provides that employees may elect to sacrifice part or all of their salary to superannuation.

  • Such arrangement must be detailed in a separate document, executed between the Employer and the Employee upon commencement of Salary Sacrifice to Superannuation arrangements.

Related to Salary Sacrifice to Superannuation

  • superannuation benefits means pensions, gratuities and other allowances payable on resignation, retirement or death;

  • superannuation benefit means any payment, other than a refund of contributions, made to a dentist by virtue of the application of the (a) National Health Service Pension Scheme Regulations 1995; or (b) the National Health Service Superannuation Scheme (Scotland) Regulations 1995 or (c) the corresponding provisions of the law in force in Northern Ireland; as a result of his providing general dental services;

  • Superannuation Scheme in this subclause, shall mean a scheme other than one implemented solely for purposes of compliance with Clause 49. - Superannuation of this award, or an Order of the Western Australian Industrial Relations Commission.

  • Superannuation Fund means the Local Government Superannuation Scheme.

  • Superannuation Legislation means the Federal legislation as varied from time to time, governing the superannuation rights and obligations of the parties, which includes the Superannuation Guarantee (Administration) Act 1992, the Superannuation Guarantee Charge Act 1992, the Superannuation Industry (Supervision) Act 1993 and the Superannuation (Resolution of Complaints) Act 1993.

  • Approved Occupational Superannuation Fund means a superannuation fund which complies with the Occupational Superannuation Standards Act, 1987.

  • Basic Comprehensive User Guide means the Ministry document titled Basic Comprehensive Certificates of Approval (Air) User Guide” dated April 2004 as amended.

  • Health and Welfare Benefits means any form of insurance or similar benefit programs, which may include but not be limited to, medical, hospitalization, surgical, prescription drug, dental, optical, psychiatric, life, or long-term disability.

  • Basic health plan means the plan described under chapter

  • Salary reduction plan means a benefit plan whereby state and

  • Employee Contribution means any contribution made to the Plan by or on behalf of a Participant that is included in the Participant's gross income in the year in which made and that is maintained under a separate account to which earnings and losses are allocated.

  • Multiple employer welfare arrangement means a multiple employer welfare arrangement

  • Flexi Plan means any individual indemnity hospital insurance plan under the VHIS framework with enhancement(s) to any or all of the protections or terms and benefits that the Standard Plan provides to the Policy Holder and the Insured Person, subject to certification by the Government. Such plan shall not contain terms and benefits which are less favourable than those in the Standard Plan, save for the exception as may be approved by the Government from time to time.

  • Societal benefits charge means a charge imposed by an electric

  • Company 401(k) Plan has the meaning set forth in Section 6.4(e).

  • Basic health benefit plan means any plan offered to an individual, a small group,

  • Retirement system means a retirement plan or system that is established by or pursuant to title 38.

  • Basic health plan model plan means a health plan as required in RCW 70.47.060(2)(e).

  • training allowance means an allowance (whether by way of periodical grants or otherwise) payable—

  • Alcohol training and education seminar means a seminar that is:

  • Participating Retail Health Clinic means a Retail Health Clinic which has a written agreement with the Claim Administrator or another Blue Cross and/or Blue Shield Plan to provide services to you at the time services are rendered.

  • Approved abuse education training program means a training program using a curriculum approved by the abuse education review panel of the department of public health or a training program offered by a hospital, a professional organization for physicians, or the department of human services, the department of education, an area education agency, a school district, the Iowa law enforcement academy, an Iowa college or university, or a similar state agency.

  • Technical Employees means those employees having special and specific engineering, geological or other professional skills, and whose primary function in Joint Operations is the handling of specific operating conditions and problems for the benefit of the Joint Property.

  • Pharmacy benefits management means the administration or management of prescription drug

  • 414(s) Compensation means any definition of compensation that satisfies the nondiscrimination requirements of Code Section 414(s) and the Regulations thereunder. The period for determining 414(s) Compensation must be either the Plan Year or the calendar year ending with or within the Plan Year. An Employer may further limit the period taken into account to that part of the Plan Year or calendar year in which an Employee was a Participant in the component of the Plan being tested. The period used to determine 414(s) Compensation must be applied uniformly to all Participants for the Plan Year.

  • Salary range is the range of rates between, and including, the minimum and maximum rate currently authorized for the class;