Long Service leave requirement for Building and Construction sector
Long Service Leave requirement for the Building and Construction Sector
If you are in the building and construction sector are you aware of co-invest. If not then you need to be as you need to be paying 2.7% of wages to them for your employees long service leave entitlements. This is not voluntary as it is legislation so it is mandatory.
Under the Construction Industry Long Service Leave Act 1997, employers of covered workers must provide information to CoINVEST (as the Trustee of the Long Service Leave Fund), and comply with CoINVEST Rules
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Please Note: Many of the comments in this publication are general in nature and anyone intending to apply the information to practical circumstances should seek professional advice to independently verify their interpretation and the information’s applicability to their particular circumstances. Content obtained from TaxBanter publication.
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