ArnhemDog
30th Aug 2002, 12:14
Excuse me if this has been answered before, but how does the V.B. endorsement process work?
I have been told the cost is reimbursed after two years/partially after one year/paid as salary after two years. How does the tax issue work, if at all?
Can anyone fill the gap?
Dehavillanddriver
31st Aug 2002, 00:58
You pay for the endorsement out of your money - there is no reimbursement.
The tax issues are a bit murky, I believe that there is a ATO ruling that is causing a bit of grief at the moment.
There is no training pay - by that I mean that you are on full wages from Day 1 which is in the high sixties for a level 2 F/O, with a retention bonus to be paid at the end of a specified period - I have not seen the new agreement as yet but it was set to increase for Captains and F/O's get a percentage of that.
Virgin pays for the NG conversion which you do either in Seattle or Hong Kong.
If they go to Airbus Virgin will pay for that endorsement as well for existing employees.
Hope that helps.