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Section : 329 High income employee
Domain : Human Resource Management
Classification : Not Identified
Text Content
(1) A full-time employee is a high income employee of an employer at a time if: (a) the employee has a guarantee of annual earnings for the guaranteed period; and (b) the time occurs during the period; and (c) the annual rate of the guarantee of annual earnings exceeds the high income threshold at that time. (2) An employee other than a full-time employee is a high-income employee of an employer at a time if: (a) the employee has a guarantee of annual earnings for the guaranteed period; and (b) the time occurs during the period; and (c) the annual rate of the guarantee of annual earnings would have exceeded the high income threshold at that time if the employee were employed on a full-time basis at the same rate of earnings. (3) To avoid doubt, the employee does not have a guarantee of annual earnings for the guaranteed period if the employer revokes the guarantee of annual earnings with the employee's agreement.