IMPORTANT NOTICE
Required Information on Return Forms

TasBuild has recently undertaken an audit of the system. Employers are required as per the Rules of the Fund to provide the period pay amount paid to the worker during the return period as well as the number of days the worker worked in the return period.

There are a number of employers who are not completing the return forms correctly and this required information is missing.

Effective from June 2008 Return please be aware that returns that have not had the required information completed will be returned to the employer for correction and resubmitting.

We will be conducting an audit of all previous returns which appear to have not been completed correctly and we will be requesting that employers validate information previously supplied if anomalies arise.

It is also a requirement that data be supplied on TasBuild return forms and not by way of spreadsheet or an internal report. This is as much for legal purposes as it is for processing the information.

Also there are a small number of employers who calculate their own contribution amounts and advise that amount on their return forms. This is done by multiplying the period pay amount by the contribution rate.

Effective from June 2008 Return this method of completing returns is no longer available. 

Employers are required as per the Rules of the Fund to provide the period pay amount paid to the worker during the return period as well as the number of days the worker worked in the return period. Please be aware that returns that have not had the required information competed will be returned to the employer for correction and resubmitting

Self Employed Contribution Rate & Interest Rate                    2008-2009

In June 2008 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 2008-2009 financial year will be 0% due to the negative returns experienced in the market.

The contribution rate (the rate at which a self employed person can contribute into the scheme) remains at $156.00 or $182.00 per quarter for the 2008-2009 financial year (these rates are based on a weekly wage of $720.00 and $840.00 per week.) 

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