Definition
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-income threshold) is to prevent a modern award from applying to their employment.
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The buyer of a business must comply with any guarantee of annual earnings made by the seller.
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There are three ways you can modify safety net provisions.
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You may prevent a modern award from applying to an eligible employee’s employment by entering into a guarantee of annual…
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