TASMANIAN CONSTRUCTION INDUSTRY

EMPLOYERS CONTRIBUTION RATE LOWERED

WORKERS ENTITLEMENTS INCREASED

The Chairman of TasBuild Limited, Mr Des Hodgman advised that with effect from 1 January 2006 workers in the Tasmanian Construction Industry will commence accruing 13 weeks paid leave after 10 years of service in the industry, a substantial increase in benefits from the currently offered 13 weeks paid leave after 15 years of service.

“In conjunction with this increase in worker benefits, the Board of TasBuild is pleased to announce, with effect from 1 July 2006, the subsidised contribution rate offered to employers will reduce from 0.7% to 0.3% of an ordinary weekly wage. The subsidised rate is offered to employers when they submit their worker returns on time and pay their contributions on time. This is a significant saving to employers in the construction industry, who, if they had to fund long service leave themselves would cost them significantly more.” he said. “Tasmania is by far the leader in this area, we offer Tasmanian employers a far cheaper contribution rate than any other state or territory.”

“Due to prudent management of the Fund, the Directors of TasBuild have been able to increase the benefits from the Scheme”, Mr Hodgman confirmed. “We are extremely happy to be able to return these benefits to the construction industry, we are reducing employment costs in the industry and at the same time securing employee access to entitlements”.

TasBuild, a trustee company, operates under an Act of Parliament that requires employers in the Tasmanian construction industry to contribute to a portable long service fund on behalf of their employees. This fund ensures that long service entitlements owing to employees are preserved, even when employees change employers or even State/Territories. TasBuild Limited pays out in excess of $1 million in entitlements to construction industry workers annually and finances construction industry projects within the State with the aim of creating employment opportunities for the beneficiaries of the scheme.

TasBuild’s Board of Directors consist of employer and employee representatives of the Master Builders Association of Tasmania; Tasmanian Chamber of Commerce and Industry; Building Industry Specialists Contractors Organisation; Construction, Forestry, Mining and Energy Union; Australian Manufacturing Workers Union and the CEPU – Electrical Trades Union (nominated on behalf of Unions Tasmania).

TasBuild Limited will be hosting the National Conference of Construction Industry Long Service Authorities in Launceston 22-24 November, 2005. The official opening and welcome will be conducted by the Deputy Mayor Alderman Jodie Campbell at 9.00am, Wednesday, 23 November at the Donegal Room, Country Club Villas, Launceston. Delegates from each State and Territory throughout Australia will be in attendance over the 3 days

October, 2005

Annual Report

TasBuild Limited's Annual Report for 2004/2005 is now available for viewing and downloading online.

September, 2005

Payroll Tax

We have been advised by several employers that they were not aware of their obligations with the State Government to include TasBuild contributions in their Payroll Tax calculations for the Department of Treasury and Finance.

We would like to remind employers of this requirement. As with all financial matters we recommend you seek advice from your Accountant as to your particular situation.

For further information on payroll tax go to www.treasury.tas.gov.au and follow the links to State Revenue Office and then click on Payroll Tax.

Annual Meeting

Annual Meeting of Contributors, Beneficiaries & Potential Beneficiaries. Our Annual Meeting is scheduled for Thursday, 13 October, 2005. Would you like to come ? If so, just RSVP to us by cob Monday, 10 October. We look forward to seeing you.

July, 2005

Goods & Services Tax (GST)

We are pleased to advise you that we have been successful in obtaining an exemption from charging GST on Employer Contributions with effect from 1 July 2005. As per previous updates you will be aware we have been working for sometime with the Government to gain an exemption from this administrative burden.

With effect from the July 2005 return, for contributions from 1 July 2005 and onwards, we will no longer charge you GST. The same process will apply, submit your return by the 14th of the following month to which the return relates to avail yourself of the subsidised contribution rate. We will forward you a Tax Invoice, exclusive of GST, for payment within 30 days of the date of the invoice - again to avail yourself of the subsidised rate.

For employers who may have outstanding contributions please note we are still required to charge GST on all contributions between the periods 1 July 2000 and 1 July 2005.

If you have any questions in relation to this matter please do not hesitate to contact one of the TasBuild Limited staff on (03) 6233 7670.

June, 2005

Self Employed Contribution Rate & Interest Rate 2005-2006

At the Board Meeting held on 17 June 2005 the Board set both the interest rate and contribution rate that will be applied to the self employed worker for the next financial year as follows:

The interest rate for the 2005-2006 financial year will be 8%.

The contribution rate (the rate at which a self-employed
person can contribute into the scheme) remains at $156.00 per quarter for the 2005-2006 financial year (this rate is based on a weekly wage of $720.00 per week.)

February, 2005 - TasBuild News Info Flyer to Employers

Tasmania leads Australia with Contribution Rate it offers to Employers
The Western Australian Construction Industry Long Service Scheme recently announced it had to increase its contribution rate to employers. The rate increased from 0.5% to 1% effective 1 January 2005.

This has meant Tasmania's subsidised contribution rate is now substantially more favourable than other states. Current state/territory contribution rates are:

Tasmania*	0.7%
Western Australia	1%
Australian Capitol Territory	1%
Victoria	1.5%
South Australia	2.5%

Queensland, New South Wales and the Northern Territory operate levy based schemes. The levy is collected on building and construction projects.

* TasBuild offers a subsidised rate of 0.7% to Tasmanian employers if returns are submitted by the due date and invoices paid by the due date, otherwise the full contribution rate of 1.67% is charged.

Construction Industry Long Service Now Australia-Wide
Employers will be aware that long service is portable to all states of Australia except Northern Territory.

We are pleased to report a scheme is currently being set-up in the Northern Territory which will ensure workers can transfer to any state or territory within Australia and continue to accrue their long service leave. Workers should check with each individual state or territory for coverage and accrual details in accordance with their individual circumstances prior to changing states.

Interstate Scheme Contact Details

Pay Your Invoices Using BPay
The BPay facility is available for your convenience. If you would like to utilise this service you will find your BPay details on your statement.