On July 1, 2016, the High Income Threshold (HIT) will increase to $138,900.
Under the provisions of the Fair Work Act, only employees don't meet the high income threshold can pursue a claim for unfair dismissal. In an important recent ruling, a court held that an employee's company-supplied personal device (e.g., an iPad) could be factored into the total value of the employee's compensation package.
The overriding rule is that fares paid for an employee to get to and from work (i.e., commuting to and from the workplace and residence) are non-deductible living expenses.
The 2015/16 Budget moves away from the austerity measures ushered in by the 2014 budget and instead focuses on tax relief for small businesses and extra childcare benefits for families.
Australia has held the view that a positive drug test, which had not proven the individual had any impairment, would not justify a termination of employment
The Australian Budget of May 8, 2012 included several provisions of note. In previous updates, we highlighted the changes to superannuation plans and the uncertain CIT rate (which will not, after all, be reduced from 30% to 29%).
On March 29, a law was passed that makes changes to the Australia's mandatory occupational pension (superannuation) system to help raise the level of retirement savings. The new law gradually increases the employer's contribution rate, removes the age limit for making contributions, and introduces a new tax rebate for low-income earners.