Document ID: chunk:federal_register_of_legislation:C2025C00150:section:329
Version: federal_register_of_legislation:C2025C00150
Segment Type: section
Provision Reference: s 329
Character Range: 912405–913368

329  High income employee
 (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.