Salary Sacrifice for Employer Superannuation. (a) 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:
(i) An employee who currently has their employer superannuation guarantee contributions paid to a Choice of Fund superannuation fund (e.g. employed after 10 August 1999) may salary sacrifice into that fund or another complying superannuation fund;
(ii) An employee who currently contributes to the CSS is not able to salary sacrifice into that scheme but can salary sacrifice into another complying superannuation fund;
(iii) An employee who currently contributes 6% to NTGPASS may salary sacrifice into NTGPASS or another complying superannuation fund;
(iv) While there is no limit to the amount an employee can salary sacrifice to superannuation, the amount sacrificed plus any other employer contributions (whether real of notional), will be assessed against the Commonwealth concessional contribution cap relevant to the employee’s age. The employee is responsible for any tax and interest that may be imposed by the Australian Taxation Office or other relevant authority for them exceeding the Commonwealth concessional contribution cap;
(v) The arrangement operates at no additional cost to the Northern Territory Government, either directly or indirectly;
(vi) The arrangement does not operate to reduce employer superannuation contributions for employees that would ordinarily be payable by the Northern Territory Government in the absence of salary sacrifice arrangements; and
(vii) When an employee who is a member of the CSS, NTSSS or NTGPASS enters into a salary sacrifice for employer superannuation arrangement, the employee’s annual rate of salary for superannuation purposes will remain at the rate set out in this Agreement (that is, the salary sacrifice arrangement has no effect on the employee’s annual rate of salary for superannuation purposes).
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 scheme the following conditions will apply:
Salary Sacrifice for Employer Superannuation. This is clause 47 in the current Agreement. There is no change to this clause.
Salary Sacrifice for Employer Superannuation. This is clause 31 in the current Agreement. Minor updates to reflect changes in Australian Taxation Office (ATO) legislation and that employees will be responsible for any tax or interest that may be imposed by the ATO for exceeding the Commonwealth concessional contribution cap.
Salary Sacrifice for Employer Superannuation. 27.1 The Parties agree to maintain an arrangement to enable employees to sacrifice salary for Employer superannuation contributions into a complying superannuation fund.
27.2 The development of the superannuation salary sacrifice arrangements were undertaken within the following parameters, which remain the basis for the provision of the arrangements:
27.2.1 Salary sacrifice for Employer superannuation purposes is optional for employees covered by the Agreement.
27.2.2 Northern Territory Government and Public Authorities Superannuation Scheme (NTGPASS) contributors will salary sacrifice into NTGPASS or another agreed complying superannuation fund.
27.2.3 Commonwealth Superannuation Scheme (CSS) contributors will salary sacrifice into Australian Government Employees Superannuation Trust (AGEST) or another agreed complying superannuation fund.
27.2.4 Employees who commenced after 10 August 1999 will salary sacrifice into the fund their Employer Superannuation Guarantee payments are paid.
27.2.5 Compulsory employee contributions to NTGPASS and CSS will be the maximum payable and will be paid from employee’s post tax salary.
27.2.6 The arrangements have regard to the additional administration costs faced by the DPC and will not result in any reduction in Employer contributions for employees that would ordinarily be payable by the DPC in the absence of the implementation of salary sacrifice arrangements.
Salary Sacrifice for Employer Superannuation. The parties agree to make available to members any salary sacrifice into superannuation arrangements introduced by the Northern Territory Government. Such arrangements should be in place and available to members by December 2001. Although the NT Superannuation Office will develop and distribute guidelines and hold seminars, members are responsible for seeking financial advice before making application to salary sacrifice into superannuation.
