SUPERANNUATION AND SALARY SACRIFICE. (a) Superannuation Guarantee Levy (SGL) contributions will be made by us to our nominated default superannuation fund. to accept a lower all up rate and have the difference contributed to your superannuation fund.
SUPERANNUATION AND SALARY SACRIFICE. Subject to the following conditions an Employee must apply to the Council to salary sacrifice any part of his/her salary (including Award or Enterprise Agreement based salary/wages) to make additional contributions to the Local Government Superannuation Scheme -
(1) 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.
(2) The Employee’s substantiative gross salary for all purposes, including but not limited to Superannuation, Annual Leave, Annual Leave loading and Long Service Leave, shall be the pre-sacrificing salary.
(3) Any such arrangement shall be by mutual agreement between each individual Employee and the Council, provided that approval by the Council shall not be unreasonably withheld.
(4) The application shall be in writing on the form provided by Council and shall detail the percentage of salary to be salary sacrificed, together with a statement that the “cash” component is adequate for his/her on-going living expenses. The remaining
SUPERANNUATION AND SALARY SACRIFICE a) All employees are eligible to join Australian Super, which is the default fund for the employees covered by this Agreement;
b) All employees are eligible to join the Timber Industry Super Scheme (TISS) or any successor fund;
c) All employee are eligible to join Westscheme;
d) Should an employee not wish to join either of the funds listed in a), b) or c) above the employee is able to exercise choice of Superannuation fund;
e) The Company will make Superannuation Guarantee Contributions to the fund that the employee has elected to join. "Superannuation Guarantee Contributions" means the contributions that are sufficient for the Company to avoid a tax penalty or charge pursuant to the Superannuation Guarantee Charge Act 1992 and the Superannuation Guarantee Administration Act 1992;
SUPERANNUATION AND SALARY SACRIFICE. Subject to the following conditions an Employee must apply to the Council to salary sacrifice any part of his/her salary (including Award or Enterprise Agreement based salary/wages) to make additional contributions to their Superannuation Scheme -
SUPERANNUATION AND SALARY SACRIFICE. 24.1 The Company shall make contributions on behalf of each employee to Superannuation Trust of Australia (STA) or Labour Union Co-operative Retirement Fund (LUCRF) in accordance with the Superannuation Guarantee Legislation. The default fund for superannuation will be LUCRF.
SUPERANNUATION AND SALARY SACRIFICE. 25.1 The Parties agree that the employer will continue to pay employer superannuation contributions in respect of each current employee into Statewide Super (being a complying superannuation fund). Choice of fund will apply from the date of this Agreement to all employees of the employer, who are to be provided with a standard choice form to enable them to select a fund in accordance with relevant superannuation legislation. For any employee that does not provide a choice form within twenty eight (28) days, all superannuation contributions will be paid to the default fund, being Statewide Super. For the purpose of this clause:
SUPERANNUATION AND SALARY SACRIFICE. The parties agree that Local Super, a division of Statewide Super, will be the default Superannuation Fund of the Naracoorte Lucindale Council.
SUPERANNUATION AND SALARY SACRIFICE. 3.6.1 The Company will make superannuation contributions in accordance with the Superannuation Guarantee Charge Act 1992 (Cth) into a complying superannuation fund nominated by the Employee. If the Employee does not nominate a complying superannuation fund, contributions will be made into the Australian Super Superannuation Fund. Employees are able to make voluntary after-tax contributions on a regular basis from their pay.
3.6.2 Company and employee contributions will be forwarded at monthly intervals. Employees are entitled to adjust their post-tax contribution twice annually in January and July of each year.
3.6.3 Employees covered by this Agreement will be eligible for salary sacrifice for superannuation purposes.
3.6.4 This clause exempts the Company from the agreed wages schedules contained in this Agreement to the extent necessary and for the exclusive purpose of allowing employees to access the salary sacrifice provisions of this Agreement.
3.6.5 Employees are entitled to access these salary sacrifice provisions in line with ATO and other regulatory body rulings in force at the time.
3.6.6 It is advised that employees obtain independent financial advice.
3.6.7 Employees must complete and sign the Salary Sacrifice Form. The appropriate form will be available on request.
3.6.8 Employees will be able to adjust the sacrificed amounts twice annually with adjustments made in January and July of each year.
3.6.9 Employees are entitled to terminate their sacrifice arrangements providing that at least one months’ notice in writing is given to the Company. Where adverse tax and/or superannuation changes occur, the Company may terminate these salary sacrifice arrangements. Where a decision to terminate is made, employees will be given one month’s notice in writing.
3.6.10 The salary sacrificed rate shall apply to periods of annual leave, long service leave and other periods of paid leave. All other payments including overtime, superannuation and annual leave loading etc. will be calculated using the relevant pre-sacrifice wage schedules contained in this Agreement.
SUPERANNUATION AND SALARY SACRIFICE. 25.1 Superannuation legislation Superannuation legislation, including the Superannuation Guarantee (Administration) Act 1992 (Cth), the Superannuation Guarantee Charge Act 1992 (Cth), the Superannuation Industry (Supervision) Act 1993 (Cth) and the Superannuation (Resolution of Complaints) Act 1993 (Cth), deals with the superannuation rights and obligations of employers and employees. Under superannuation legislation individual employees generally have the opportunity to choose their own superannuation fund. If an employee does not choose a superannuation fund, any superannuation fund nominated in the agreement covering the employee applies. The rights and obligations in these clauses supplement those in superannuation legislation.
25.2 Employer contributions An employer must make such superannuation contributions to a superannuation fund for the benefit of an employee as will avoid the employer being required to pay the superannuation guarantee charge under superannuation legislation with respect to that employee.
25.3 Voluntary employee contributions
(i) Subject to the governing rules of the relevant superannuation fund, an employee may, in writing, authorise their employer to pay on behalf of the employee a specified amount from the post-taxation wages of the employee into the same superannuation fund as the employer makes the superannuation contributions provided for in clause 25.2.
(ii) An employee may adjust the amount the employee has authorised their employer to pay from the wages of the employee from the first of the month following the giving of three months’ written notice to their employer.
(iii) The employer must pay the amount authorised under clauses 26.3(i) or 26.3(ii) no later than 28 days after the end of the month in which the deduction authorised under clauses 25.3(i) or (ii) was made.
SUPERANNUATION AND SALARY SACRIFICE
