Common use of Superannuation allowance Clause in Contracts

Superannuation allowance. 22.1 Subject to clause 22.6, an ongoing employee whose employer superannuation is paid under the Superannuation Guarantee (Administration) Act 1992 (SG Act) may elect in writing to be paid a superannuation allowance each fortnight of 5.3881 per cent of their ordinary time earnings (as defined for superannuation purposes) for that fortnight, not including the superannuation allowance. Note: The superannuation allowance is taxable, counts as ordinary time earnings and an employer superannuation contribution is payable on the allowance. 22.2 Where an election is made under clause 22.1, clause 21.1 does not apply. The employee will be paid employer superannuation contributions as required under the SG Act. 22.3 The superannuation allowance does not count as salary for salary packaging, payments in lieu of unused annual leave, retention payments or severance benefits. 22.4 The superannuation allowance is not paid during periods of leave where salary for that leave is excluded from ordinary time earnings under the SG Act as employer superannuation contributions are not payable. 22.5 An employee may cease an election under this clause by giving 28 days’ written notice. 22.6 Where the employer superannuation contribution percentage required under the SG Act changes and/or the employer superannuation contribution percentage specified in the Deed to establish the PSSap increases above 15.4 per cent, the superannuation allowance percentage will change proportionately.

Superannuation allowance. ‌ 22.1 Subject to clause 22.6, an ongoing employee whose employer superannuation is paid under the Superannuation Guarantee Xxxxxxxxx (AdministrationXxxxxxxxxxxxxx) Act 1992 Xxx 0000 (SG ActXX Xxx) may elect in writing to be paid a superannuation allowance each fortnight of 5.3881 per cent of their ordinary time earnings (as defined for superannuation purposes) for that fortnight, not including the superannuation allowance. allowance.‌ Note: The superannuation allowance is taxable, counts as ordinary time earnings and an employer superannuation contribution is payable on the allowance. 22.2 Where an election is made under clause 22.1, clause 21.1 does not apply. The employee will be paid employer superannuation contributions as required under the SG Act.Act.‌ 22.3 The superannuation allowance does not count as salary for salary packaging, payments in lieu of unused annual leave, retention payments or severance benefits. 22.4 The superannuation allowance is not paid during periods of leave where salary for that leave is excluded from ordinary time earnings under the SG Act as employer superannuation contributions are not payable. 22.5 An employee may cease an election under this clause by giving 28 days’ written notice. 22.6 Where the employer superannuation contribution percentage required under the SG Act changes and/or the employer superannuation contribution percentage specified in the Deed to establish the PSSap increases above 15.4 per cent, the superannuation allowance percentage will change proportionately.proportionately.‌

Superannuation allowance. ‌ 22.1 Subject to clause 22.6, an ongoing employee whose employer superannuation is paid under the Superannuation Guarantee (Administration) Act 1992 (SG Act) may elect in writing to be paid a superannuation allowance each fortnight of 5.3881 per cent of their ordinary time earnings (as defined for superannuation purposes) for that fortnight, not including the superannuation allowance. allowance.‌ Note: The superannuation allowance is taxable, counts as ordinary time earnings and an employer superannuation contribution is payable on the allowance. 22.2 Where an election is made under clause 22.1, clause 21.1 does not apply. The employee will be paid employer superannuation contributions as required under the SG Act.Act.‌ 22.3 The superannuation allowance does not count as salary for salary packaging, payments in lieu of unused annual leave, retention payments or severance benefits. 22.4 The superannuation allowance is not paid during periods of leave where salary for that leave is excluded from ordinary time earnings under the SG Act as employer superannuation contributions are not payable. 22.5 An employee may cease an election under this clause by giving 28 days’ written notice. 22.6 Where the employer superannuation contribution percentage required under the SG Act changes and/or the employer superannuation contribution percentage specified in the Deed to establish the PSSap increases above 15.4 per cent, the superannuation allowance percentage will change proportionately.proportionately.‌

Superannuation allowance. 22.1 29.1 Subject to clause 22.629.6, an ongoing employee whose employer superannuation is paid under the Superannuation Guarantee (Administration) SG Act 1992 (SG Act) may elect in writing to be paid a superannuation allowance each fortnight of 5.3881 per cent as a percentage of their ordinary time earnings (as defined for superannuation purposes) for that fortnight, not including the superannuation allowance. The percentage for the calculation of this allowance will be the difference between the super guarantee percentage as advised by the ATO, and the superannuation contribution percentage specified in the Deed to establish the PSSap. At the time of the commencement of the Agreement this percentage is 3.9640 per cent. Note: The superannuation allowance is taxable, counts as ordinary time earnings and an employer superannuation contribution is payable on the allowance. 22.2 29.2 Where an election is made under clause 22.129.1, clause 21.1 28.1 does not apply. The employee will be paid employer superannuation contributions as required under the SG Act. 22.3 29.3 The superannuation allowance does not count as salary for salary packaging, payments in lieu of unused annual leave, retention payments or severance benefits. 22.4 29.4 The superannuation allowance is not paid during periods of leave where salary for that leave is excluded from ordinary time earnings under the SG Act as employer superannuation contributions are not payable. 22.5 29.5 An employee may cease an election under this clause by giving 28 days’ written notice. 22.6 29.6 Where the employer superannuation contribution percentage required under the SG Act changes and/or the employer superannuation contribution percentage specified in the Deed to establish the PSSap increases above 15.4 per cent, the superannuation allowance percentage will change proportionately.