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The superannuation Maximum Contribution Base is the upper earnings limit for each quarter that an employer is obliged to pay superannuation contributions. The Maximum Contributions Base for 2015/16 financial year is $50,810 per quarter —(this figure is indexed each year and provided by the ATO). An employer is obliged to pay superannuation contributions on ordinary time…

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Outstanding payments for time worked up to termination: All outstanding payments must be paid to an employee upon termination. Payments may include any outstanding ordinary time hours, overtime, allowances, leave taken, bonuses, shift loadings, etc, that would have been payable and treated as normal pay and taxed using the appropriate tax tables. Other payments can…

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There are just over 11 weeks until Christmas – and while that sounds scary, it is a timely reminder to start preparing for any closures that will happen at your workplace over the Christmas/New Year period. If you are planning an annual Shut Down, information on the Fair Work Ombudsman’s website provides guidance on what…

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Jury Duty

What notice and evidence is required for leave taken in regard to jury duty? Employees must advise their employers of the period or expected period of leave as soon as possible. If an employee requests leave they need to provide evidence showing they attended jury selection or jury duty. How do we treat payment for…

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The TFN Declaration and the Withholding Declaration have been updated for 2015-2016 due to the following changes. Trade Support Loans Both declarations have been revised to reflect a new type of debt that some staff may have, known as a Trade Support Loan (TSL). This is a loan made available by the Federal Government to…

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Many staff, particularly those that are older, may elect to make additional contributions to superannuation by way of salary sacrifice so that they can utilise the lower tax that applies to such amounts. However, there are limits to these tax concessions. The limits for 2014-2015 and 2015-2016 are: $30,000 (if aged under 50 at income…

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Managing underperformance

Useful information in regards to managing staff. http://www.fairwork.gov.au/about-us/policies-and-guides/best-practice-guides/managing-underperformance

Good Friday  April 3, 2015 All States and Territories and New Zealand Easter Saturday April 4, 2015  Not TAS, WA or NZ Easter Sunday April 5, 2015 NSW and VIC only Easter Monday April 6, 2015 All States and Territories and New Zealand Easter Tuesday April 7, 2015 TAS – not a State-wide holiday. For…

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Unclaimed superannuation

The ATO has reported that there is currently $5.8 billion of unclaimed superannuation.  Your staff will be most appreciative if you are able to help them find out whether some of this money actually belongs to them.  For those interested in finding out more and forwarding on to staff, here is the link: https://superseeker.super.ato.gov.au/SuperSeekerWeb/default.aspx?pid=71