18The nature of the salary sacrifice election

18 The nature of the salary sacrifice election

(1) The person may elect to forgo a percentage or amount of the base salary that he or she would otherwise expect to receive and instead have contributions (the additional contributions) made to a specified fund, scheme or account (the additional contributions fund).

Note: An election can be varied or revoked (see sections 22 and 23).

(2) The specified fund, scheme or account must, at the time the election is made, be either: (a) a complying superannuation fund; or (b) an RSA. (3) There can only be one additional contributions fund at any particular time in relation to the person.