Common use of Salary sacrifice into superannuation Clause in Contracts

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. 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-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. a. 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 employee‟s responsibility to seek advice and fully understand all implications of salary sacrifice before seeking to enter into this arrangement. • The employee's employee‟s substantive gross salary for all purposes, including but not limited to superannuation, annual leave, annual leave loading and long service leaveservice, 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 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 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. The employee acknowledges and understands that his/her take home pay will be reduced.

Salary sacrifice into superannuation. a. (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. • 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 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. • The employee acknowledges and understands that his/her take home pay will be reduced.