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The Bureau of Labor Statistics, [3] like the International Accounting Standards Board, [4] defines employee benefits as forms of indirect expenses. Managers tend to view compensation and benefits in terms of their ability to attract and retain employees, as well as in terms of their ability to motivate them.
Superannuation funds can claim a capital gains tax discount where the asset has been owned for at least 12 months. The discount applicable to superannuation funds is 33%, reducing the effective tax rate on capital gains from 15% to 10%. [8] No discount or adjustment is available if an asset is sold at a loss.
Fifth, there is a disjointed right to paid parental leave under the Paid Parental Leave Act 2010, which entitles both parents to share 20 weeks paid leave (but at least 2 weeks reserved for one). Also under the FWA 2009 section 76 there is a further right to one year, but of unpaid leave, extendable to two years if an employer accepts the request.
Superannuation in Australia, or "super", is a savings system for workplace pensions in retirement. It involves money earned by an employee being placed into an investment fund to be made legally available to members upon retirement. Employers make compulsory payments to these funds at a proportion of their employee's wages.
Other achievements include winning redundancy pay in 1986, four weeks annual leave in 1974 and 12 months maternity leave in 1979. [7] In 1987, the SDA helped facilitate compulsory employer payments of 3% superannuation for employees paid into industry fund REST Super with joint union-employer directors. [7]
The Superannuation Industry (Supervision) ... Please help out by adding categories to it so that it can be listed with similar articles. (December 2023
Commuted leave: Two half pay leaves due can be commuted to one fully paid commuted leave. Commuted leave not exceeding half the amount of half-pay leave due at any point of time can be taken on certified medical ground. Whereas 90 days of commuted leave can be availed during the entire service period without any certified medical ground.
An industry superannuation fund (or, simply, 'industry fund') are Australian superannuation funds that historically were established by Australian trade unions to manage retirement savings for workers in their industry. Funds other than industry funds are referred to as 'retail funds'.