2004

TasBuild Limited Annual Meeting
The Annual Meeting of Beneficiaries, Potential Beneficiaries and Contributors will be held at 5.00 pm on Thursday 14th October 2004 at TasBuild's offices Level 1, 115 Central Avenue, Derwent Park. All registered employers and workers are invited to attend. If you would like to attend please RSVP by email to secretary@tasbuild.com.au by Monday 11th October 2004.

TasBuild Limited Annual General Meeting
The Annual Meeting of Beneficiaries, Potential Beneficiaries and Contributors will be held in Hobart on Thursday 14th October 2004. If you would like to attend please email secretary@tasbuild.com.au. You will be forwarded details of the location, meeting time and agenda prior to the meeting date.

When Can Workers Access Their Long Service Entitlements ?
Are you ever asked by your workers when their long service is due and how much they are entitled to?

A worker is eligible for 13 weeks long service leave after 15 years of service.

Once the worker has reached ten years of service he can access 8 weeks long service leave which can be taken in minimum weekly lots up to the 8 week maximum.

The worker can then access his next lot of long service entitlements every subsequent 5 years, taking the leave in minimum weekly lots up to what is available.

There is also a pro-rata entitlement upon leaving the industry after accruing a minimum of 7 years service which is available under certain circumstances.

Privacy Policy
Our Privacy Policy is now available on this site. Please Click here to view.

The Policy will provide you with information on how your personal and business records are protected.

A copy of the Policy will be mailed to Employers together with with this TasBuild News Info Flyer in early July 2004. However should you require a copy now or further information about the Trustee's Privacy Policy please contact us. For information on the Federal Privacy Legislation contact the Federal Government Commissioner's hotline on 1300 363 992 or go online to: www.privacy.gov.au.

Administrative / Clerical Employees
Legal advice recently received by the Trustee means that the Trustee can no longer accept registrations for the above classification of workers.

If an Employer makes contributions into the Fund for administrative/clerical Employees they may be creating a fringe benefit tax (FBT) liability from 1 April 2005 when FBT Legislation takes effect. Note: This matter is still being reviewed by the Federal Government and Australian Taxation Office.

If you feel the above may impact on your organisation, please contact us for further details.

"New" Self Employed System
Directors of the Board have approved new changes to the rules governing self-employed people in the construction industry. These new rules have made significant changes to the way that a self-employed person can contribute on their own behalf into the fund.

Effective 1 July 2004 TasBuild will set a rate at which a self-employed person can contribute into the scheme. The contribution rate will be reviewed annually. The rate for the financial year 2004-2005 will be $156.00 per quarter (this rate is based on a weekly wage of $720.00 per week).

The self-employed person will receive an invoice for this amount at the end of each quarter. Upon receipt of those monies their service record will be credited with the number of days in that quarter.

Interest will be applied to the contributions (compounding, calculated daily) that the self-employed person pays into the scheme on their own behalf. The interest rate will be set in late June/July each year for the following financial year based on the Fund's earnings in the previous financial year. The rate for the 2004-2005 financial year is 9.25%.

Upon reaching an entitlement the contributions that have been made under this new self-employed system will be refunded plus interest applied.

Self-employed contributions under the new system are not subject to Goods & Services Tax (GST).

For any questions or queries concerning the new self-employed system do not hesitate to contact us.

Updated Return Format
It has come to our attention that some employers are getting confused when they complete the ‘Days Worked’ column on the return form.

This column is to be completed with the number of days you have paid the worker during the month. For example if the worker was off on annual leave, sick leave, RDO’s etc., these days are to be included. A worker continues to accrue long service leave whilst on paid time away from the work place.

To make it clearer we have changed the title of the column from ‘Days Worked’ to ‘Days Paid’.

You do not include any days off on Leave With Out Pay, i.e. any days that the worker does not work and you did not pay him.

Examples:

Worker A goes on Annual Leave for the month of January. You paid Worker A this annual leave in advance in his last pay in December.

How do you complete the December and January returns?

• You would write the maximum number of days for the period in December in the Days Paid column (this number is shown each month on the return form) with the total amount paid to him, inclusive of the advance annual leave payment in the Period Pay.
• When you complete the number of Days Paid in January, Worker A would again have the maximum number of days for the period as days paid. You would put $0 in the Period Pay column as you paid him that Annual Leave and it was incorporated in the Period Pay on the December return.

Worker B is a part-time employee, working for you 12 days per month. He has no accumulated annual leave or sick leave and requires 3 days off work. You allow him to take the time off but it is treated as Leave With Out Pay.

How do you complete the return?

• In this case, you would complete 9 days in the Days Paid column and complete the period pay which should equate to 9 days pay.

Pay Your Invoices Using BPay
The BPay Facility is now up and running. If you would like to utilise this service you will find your BPay details on your monthly statement.

2003 News & Info

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