Posted in Social Security

The federal 2024 budget confirmed superannuation will be paid on government-funded Paid Parental Leave (PPL) payments: The contribution will be 12% of the payment The contribution will be paid on payments after 1 July 2025 From 1 July 2026, the maximum PPL will be 130 days (26 weeks) Recipients must satisfy eligibility criteria If you need help with understanding the PPL, please don't hesitate to get in touch with us and arrange your free initial consultation ...

The federal government is proposing legislation that, if passed, will increase the Paid Parental Leave ('Leave') to 26 weeks by 2026: The proposal is to increase the current 20 weeks Leave (for children born or adopted after 1 July, 2023) by 2 week increments each Financial Year for the next 3 Years There is an eligibility criteria to receive the payment, including: Income Test | Work Test | Residency Rules Incorporating Leave payments into your Financial Plan may be critica...

Family & Domestic Violence Leave Entitlements Recently the modern awards were changed to provide employees with access to 5 days of unpaid family and domestic violence leave each year. The leave can be taken by employees who need to deal with the impact of family and domestic violence, including (but not limited to): making arrangements for their safety or that of a family member; attending court hearings; accessing police services. The entitlement app...

Base rates of pay to increase by 3.5% The Fair Work Commission has announced an increase to minimum wages after their 2018 Annual Wage Review.  The increase applies to base rates of pay and will start on 1 July 2018. The new national minimum wage will increase to $719.20 per week (or $18.93 per hour). What to do next: Make sure your employee's details are current; Make sure your employee's are classified in their correct level of exeperience, acco...

What is a trauma insurance reinstatement benefit? What happens if you have more than one major medical trauma (unfortunately this happens quite a lot). Let's say you have $100,000 trauma insurance benefit and you are diagnosed with cancer and your $100,000 trauma insurance claim is paid.  What happens next? you would reinstate your trauma insurance policy after the claim is paid. your premium remains the same and there are no medical underwriting requirements...