Common use of Deferred Salary Scheme Clause in Contracts

Deferred Salary Scheme. 43.1. With the written agreement of the Employer, an Employee may elect to receive, over a four (4) year period, eighty (80) per cent of the salary/wage they would otherwise be entitled to receive in accordance with the General Agreement. 43.2. On completion of the fourth year, an Employee will be entitled to twelve (12) months’ leave and will receive an amount equal to eighty (80) per cent of the salary/wage they were otherwise entitled to in the fourth year of deferment. 43.3. Where an Employee completes four (4) years of deferred salary/wage service and is not required to attend duty in the following year, the period of non-attendance shall not constitute a break in service and shall count as service on a pro rata basis for all purposes. 43.4. An Employee may withdraw from this scheme prior to completing a four-year period by written notice. The Employee will receive a lump sum payment of salary/wage forgone to that time but will not be entitled to equivalent absence from duty. 43.5. The Employer will ensure that superannuation arrangements and taxation effects are fully explained to the Employee by the relevant authority. The Employer will put any necessary arrangements into place.

Deferred Salary Scheme. 43.140.1. With the written agreement of the Employer, an Employee may elect to receive, over a four (4) year period, eighty (80) per cent of the salary/wage they would otherwise be entitled to receive in accordance with the General Agreement. 43.240.2. On completion of the fourth year, an Employee will be entitled to twelve (12) months’ leave and will receive an amount equal to eighty (80) per cent of the salary/wage they were otherwise entitled to in the fourth year of deferment. 43.340.3. Where an Employee completes four (4) years of deferred salary/wage service and is not required to attend duty in the following year, the period of non-attendance shall not constitute a break in service and shall count as service on a pro rata basis for all purposes. 43.440.4. An Employee may withdraw from this scheme prior to completing a four-year period by written notice. The Employee will receive a lump sum payment of salary/wage forgone to that time but will not be entitled to equivalent absence from duty. 43.540.5. The Employer will ensure that superannuation arrangements and taxation effects are fully explained to the Employee by the relevant authority. The Employer will put any necessary arrangements into place.

Deferred Salary Scheme. 43.145.1. With the written agreement of the Employer, an Employee may elect to receive, over a four (4) year period, eighty (80) per cent of the salary/wage they would otherwise be entitled to receive in accordance with the General Agreement. 43.245.2. On completion of the fourth year, an Employee will be entitled to twelve (12) months’ months’ leave and will receive an amount equal to eighty (80) per cent of the salary/wage they were otherwise entitled to in the fourth year of deferment. 43.345.3. Where an Employee completes four (4) years of deferred salary/wage service and is not required to attend duty in the following year, the period of non-attendance shall not constitute a break in service and shall count as service on a pro rata basis for all purposes. 43.445.4. An Employee may withdraw from this scheme prior to completing a four-year period by written notice. The Employee will receive a lump sum payment of salary/wage forgone to that time but will not be entitled to equivalent absence from duty. 43.545.5. The Employer will ensure that superannuation arrangements and taxation effects are fully explained to the Employee by the relevant authority. The Employer will put any necessary arrangements into place.

Deferred Salary Scheme. 43.145.1. With the written agreement of the Employer, an Employee may elect to receive, over a four (4) year period, eighty (80) per cent of the salary/wage they would otherwise be entitled to receive in accordance with the General Agreement. 43.245.2. On completion of the fourth year, an Employee will be entitled to twelve (12) months’ leave and will receive an amount equal to eighty (80) per cent of the salary/wage they were otherwise entitled to in the fourth year of deferment. 43.345.3. Where an Employee completes four (4) years of deferred salary/wage service and is not required to attend duty in the following year, the period of non-attendance shall not constitute a break in service and shall count as service on a pro rata basis for all purposes. 43.445.4. An Employee may withdraw from this scheme prior to completing a four-year period by written notice. The Employee will receive a lump sum payment of salary/wage forgone to that time but will not be entitled to equivalent absence from duty. 43.545.5. The Employer will ensure that superannuation arrangements and taxation effects are fully explained to the Employee by the relevant authority. The Employer will put any necessary arrangements into place.

Deferred Salary Scheme. 43.140.1. With the written agreement of the Employer, an Employee may elect to receive, over a four (4) year period, eighty (80) per cent of the salary/wage they would otherwise be entitled to receive in accordance with the General Agreement. 43.240.2. On completion of the fourth year, an Employee will be entitled to twelve (12) months’ months leave and will receive an amount equal to eighty (80) per cent of the salary/wage they were otherwise entitled to in the fourth year of deferment. 43.340.3. Where an Employee completes four (4) years of deferred salary/wage service and is not required to attend duty in the following year, the period of non-attendance shall not constitute a break in service and shall count as service on a pro rata basis for all purposes. 43.440.4. An Employee may withdraw from this scheme prior to completing a four-year period by written notice. The Employee will receive a lump sum payment of salary/wage forgone to that time but will not be entitled to equivalent absence from duty. 43.540.5. The Employer will ensure that superannuation arrangements and taxation effects are fully explained to the Employee by the relevant authority. The Employer will put any necessary arrangements into place.

Deferred Salary Scheme. 43.1. 30.1 With the written agreement of the Employer, an Employee may elect to receive, over a four (4) four-year period, eighty (80) per cent of the salary/wage they would otherwise be entitled to receive in accordance with the General Agreement. 43.2. 30.2 On completion of the fourth year, an Employee will be entitled to twelve (12) months’ months leave and will receive an amount equal to eighty (80) per cent of the salary/wage they were otherwise entitled to in the fourth year of deferment. 43.3. 30.3 Where an Employee completes four (4) years of deferred salary/wage service and is not required to attend duty in the following year, the period of non-attendance shall not constitute a break in service and shall count as service on a pro rata basis for all purposes. 43.4. 30.4 An Employee may withdraw from this scheme prior to completing a four-year period by written notice. The Employee will receive a lump sum payment of salary/wage forgone to that time but will not be entitled to equivalent absence from duty. 43.5. 30.5 The Employer will ensure that superannuation arrangements and taxation effects are fully explained to the Employee by the relevant authority. The Employer will put any necessary arrangements into place.