Salary Sacrifice Principles. Salary sacrifice options are available in accordance with this Agreement and any restrictions or policies that SPARQ Solutions may wish to impose from time to time. An employee may salary sacrifice their salary in return for other benefits, such as: ▪ Superannuation contributions; ▪ Electricity rebate; and ▪ Motor vehicles. An employee can implement salary sacrifice arrangements at any time in accordance with the SPARQ Solutions policy and guidelines. It is recommended that employees obtain independent financial advice specific to their circumstances before implementing or changing a salary sacrifice arrangement. Any salary sacrifice arrangements must be at no cost to SPARQ Solutions and in compliance with any applicable legislation, Australian Taxation Office [ATO] rulings, or guidelines and SPARQ Solutions policy and, in the case of superannuation, the superannuation fund rules. The amount sacrificed by an employee must be sufficient to cover the cost to SPARQ Solutions of the benefit the employee wishes to receive, including any fringe benefits tax payable. Employees, who salary sacrifices, must authorise SPARQ Solutions to deduct those costs from their remuneration. Employees are responsible for any salary sacrifice arrangements they create. That includes paying immediately any residual liability or retaining or taking over from SPARQ Solutions any ongoing legal obligations in respect of any benefits [for example motor vehicles] for which an employee has salary sacrificed, upon termination of the salary sacrifice arrangement or the employee’s employment.
Salary Sacrifice Principles. 4.5.1. Salary sacrifice options are available in accordance with this Agreement, and any restrictions or policies that the Employer may wish to impose from time to time.
Salary Sacrifice Principles. Salary sacrifice options are available in accordance with this Agreement and any restrictions or policies that Ergon Energy may wish to impose from time to time. An employee may salary sacrifice part of their salary in return for other benefits, such as: ▪ Superannuation contributions; ▪ Electricity rebate; ▪ Motor vehicles. Any salary sacrifice arrangements must be at no cost to Ergon Energy and in compliance with any applicable legislation, Australian Taxation Office (ATO) rulings or guidelines and, in the case of superannuation, the superannuation fund rules. The amount sacrificed by an employee must be sufficient to cover the cost to Ergon Energy of the benefit the employee wishes to receive, including any fringe benefits tax payable. Employees, who salary sacrifices, must authorise Ergon Energy to deduct those costs from their remuneration. Employees are responsible for any salary sacrifice arrangements they create. That includes paying immediately any residual liability or retaining or taking over from Ergon Energy any ongoing legal obligations in respect of any benefits (for example, laptop computers and motor vehicles) for which an employee has salary sacrificed, upon termination of the salary sacrifice arrangement or the employee’s employment. An employee can implement salary sacrifice arrangements at any time. However, once in place, subject to this Agreement and in exceptional circumstances, changes to the salary sacrifice arrangement can only be made once per year. It is recommended that employees obtain independent financial advice specific to their circumstances before implementing or changing a salary sacrifice arrangement.
Salary Sacrifice Principles. Salary sacrifice options are available in accordance with this Agreement and any restrictions or policies that the employer may wish to impose from time to time. An employee may salary sacrifice part of their salary in return for other benefits, such as: • Superannuation contributions, • Personal arboreal equipment, and • Laptop computers. Any salary sacrifice arrangements will be at no cost to the employer and will be in accordance with any applicable legislation, Australian Taxation Office rulings or guidelines and, in the case of superannuation, the superannuation fund rules. The amount sacrificed by an employee will be sufficient to cover the cost to the employer of the benefit the employee wishes to receive, including any fringe benefits tax payable. Employees who salary sacrifice, will authorise the employer to deduct those costs from their remuneration. Any amount sacrificed by an employee for additional superannuation contributions, will not cause the total annual superannuation contributions for that employee to exceed the Australian Taxation Office maximum deductible contribution limits (which increase from year to year). Employees are responsible for any salary sacrifice arrangements they create. That includes paying immediately any residual liability or retaining or taking over from the employer any ongoing legal obligations in respect of any benefits (for example, laptop computers and motor vehicles) for which an employee has salary sacrificed, upon termination of the salary sacrifice arrangement or the employee’s employment. An employee can implement salary sacrifice arrangements at any time. However, once in place, subject to this Agreement and in exceptional circumstances, changes to the salary sacrifice arrangement can only be made once per year. It is recommended that employees obtain independent financial advice specific to their circumstances before implementing or changing a salary sacrifice arrangement.
