Every Sydney player who isn't paid more than $300,000 will receive a net payment of $10,000 next season and in 2016, under the AFL's new version of the cost of living allowance (COLA).

The new cost of living allowance, which has to be ratified by the AFL commission at its next meeting, will apply to about half the Sydney playing list, for only 2015 and 2016. But players with existing contracts, obviously, will have their contracts maintained. The rule is being phased out and replaced by an accomodation allowance, which will benefit mainly lower paid players who rent in the expensive Sydney market.

Under the old rule, every player would receive 9.8 per cent in COLA, adding on to their contract and paid for by the AFL. Thus, a player on $300,000 would have received slightly under $30,000.

The revised COLA will be a net payment and a fringe benefit - which means the club will have to pay fringe-benefits tax. This temporary COLA will be skewed towards the younger players on the list, for whom a net $10,000 allowance is far more significant than those who are highly paid.

The AFL will continue to pay the COLA and is expected also to fund the accomodation allowance that comes in from the 2017 season.