Coles Myer Logistics Pty Ltd Goulburn and Somersby D.C. Consolidated Award 2004

 

INDUSTRIAL RELATIONS COMMISSION OF NEW SOUTH WALES

 

Application by Coles Myer Ltd.

 

(No. IRC 6456 of 2005)

 

 

VARIATION

 

1.          Insert a new subclause (c) in clause 10, Superannuation of the award published 29 July 2005 (352 I.G. 847).

 

(c)        An employee may make their own contribution to the superannuation fund by salary sacrificing part of their wage.  This shall mean reducing pre tax earnings with a specified amount and contributing the specified amount to the superannuation fund.  Once the specified amount is removed then income tax shall be applied to the employee's earnings.

 

The specified amount shall be limited to 30% of pre tax earnings of the employee's base rate.

 

Pre Tax (sacrificed) earnings shall be used in the calculation of Workcover, accident make up pay and redundancy payments.

 

Salary Sacrifice may be commenced, changed or revoked in the first pay period in July of each year.

 

2.          This variation shall take effect from the first pay period on or after 13 December 2005.

 

 

 

T. M. KAVANAGH  J.

 

 

 

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Printed by the authority of the Industrial Registrar.