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Sale of businessMar 01, 2017

Must the buyer recognise a guarantee of annual earnings?

A guarantee of annual earnings is a guarantee by an employer to pay an employee a certain amount of earnings for a period of 12 months or more, the effect of which (if accepted by the employee and if the guaranteed amount is no less than the high earning threshold) is to prevent a modern award from applying to their employment.

Must the buyer recognise a guarantee of annual earnings?
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