Paid Parental Leave from 1 January 2011 A government funded Paid Parental Leave scheme will be introduced. The parental leave payment will be equal to the federal minimum wage (currently $543.78 per week), and can be for up to 18 weeks. The primary carer must have earned less than $150,000 (income test yet to be […]
Income tested aged care fee to be charged from date of entry The income tested fee for residential aged care will be charged from the day of entry, removing the current 28 day delay. This will align the residential income tested fee with other aged care fees payable from the day of entry into the […]
Increase in pension taper rate from 20 September 2009 From 20 September 2009 the income test taper will increase from 40 to 50 cents in the dollar for a single pensioner and from 20 to 25 cents in the dollar for each member of a couple above the allowable income free thresholds. This threshold is […]
New pension supplement from 20 September 2009 A new pension supplement will be introduced which will be an amalgamation of the former GST pension supplement, Pharmaceutical Allowance, Utilities Allowance and Telephone Allowance. The new supplement will be available to all income support payments with the exception of Newstart allowance, Special benefit and Sickness benefit recipients. […]
Increase in government support pension amount from 20 September 2009 The single base pension will be increased to 27.7 per cent of Male Total Average Weekly Earnings (MTAWE), from its present 25 per cent of MTAWE. This means that from 20 September 2009 the single basic pension rate will be increased by $30 per week. […]
Pension Bonus Scheme closed to new entrants from 20 September 2009 The Pension Bonus Scheme will be closed to new entrants. An income test concession will be introduced instead. Clients registered prior to closure will continue accruing entitlements as previously. To compensate for the closure of this measure, the Government will introduce a new pension […]
Temporary reduction of the Government co-contribution from 1 July 2009 to 30 June 2014 The Government will temporarily reduce the matching rate and maximum co-contribution that is payable on an individual’s eligible personal non-concessional superannuation contributions, with effect from 1 July 2009. Under this measure, the matching rate and corresponding reduction will be: 2009- 2010 […]
How much will be paid? $900 bonus will be paid if you have a taxable income up to and including $80,000 $600 bonus will be paid if you have a taxable income exceeding $80,000 but not exceeding $90,000 $250 bonus will be paid if you have a taxable income exceeding $90,000 but not exceeding $100,000 […]
Provision for loved ones and protection against loss of income are the most requested guarantees sought by our clients. Financial business markets and environments change frequently meaning a regular review of your circumstances is essential. Knowing that your business, financial and family risks are fully protected will give you peace of mind. The following areas […]
A Fair Work Bill Action Plan 1. Review existing workplace arrangements to assess the impact that National Employment Standards might have on your business. 2. Consider acting now to place employees currently on Australian Workplace Agreements on employee collective agreements. Determine to what extent you may be able to take advantage of the ‘high-income’ employee […]
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