Commonwealth Consolidated Regulations

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CORPORATIONS REGULATIONS 2001 - REG 2D.2.01

Meaning of base salary

             (1)  For the definition of base salary in section 9 of the Act, the matters specified in the following table are base salary.

 

Item

Matter

1

The components of a short-term employee benefit that:

(a) are not dependent on the satisfaction of a performance condition; and

(b) are specified in paragraphs (a), (c) and (d) of column 3 of item 6 in the table in subregulation 2M.3.03(1); and

(c) are paid during the relevant period

2

A superannuation contribution that:

(a) is not dependent on the satisfaction of a performance condition; and

(b) is paid during the relevant period

3

A share-based payment that:

(a) is not dependent on the satisfaction of a performance condition; and

(b) is specified in column 3 of item 11 in the table in subregulation 2M.3.03(1); and

(c) is paid during the relevant period

4

A liability or prospective liability to pay tax in respect of a fringe benefit taxable amount under:

(a) the Fringe Benefits Tax Assessment Act 1986 ; or

(b) the Fringe Benefits Tax Act 1986 ;

that relates to the provision of a matter specified in item 1, 2 or 3

             (2)  For subregulation (1):

                     (a)  if a person has held an office in relation to a company:

                              (i)  throughout a period of more than 12 months; or

                             (ii)  throughout a number of periods of more than 12 months in total;

                            the relevant period for that person is the last 12 months of that period or the last 12 months of the total period; and

                     (b)  if a person has held an office in relation to a company:

                              (i)  throughout a period of 12 months or less; or

                             (ii)  throughout a number of periods of 12 months or less in total;

                            the relevant period for that person is that period or the total period.



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