The Australian government has announced an array of changes to the employment related financial thresholds, effective from July 1, 2013.
Online PR News – 30-August-2013 – 1250 Oakmead Parkway, Suite 210 Sunnyvale, CA 94085, U.S – The Australian government has announced an array of changes to many employment related financial thresholds which are indexed annually. These changes are applicable from July 1, 2013, says Nair & Co. which provides global HR services for companies setting up foreign operations.
For an Unfair Dismissal Application and Annual Earnings Guarantee (Before Statutory Superannuation), the threshold has changed as follows:
* AU$ 123,300 for fiscal year (2013/2013), and
* AU$ 129,300 for fiscal year (2013/2014).
If an employer assures an employee that he/she will receive more than the above income limit, both the parties may enter into an agreement (Guarantee of Annual Earnings) and the employee can be excluded from Award coverage.
For Unfair Dismissal Applications, an employer could be liable to pay a maximum compensation of:
* AU$ 61,650 for fiscal year (2013/2013), and
* AU$ 64,650 for fiscal year (2013/2014).
For more information about doing business overseas or to know more about our International HR Services team please contact us.
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Nair & Co. provides you with your one touch outsourced finance, HR, legal and global tax compliance department for your international operations. If you are expanding abroad for the first time or increasing your global footprint, our turnkey solutions help you do so with minimal risk, stress and cost. We support 1000+ client operations in over 56 countries and have core offices in U.K., India, China, U.S., Japan and Singapore. Nair & Co. was named among the top 100 outsourcing services providers in the world by the International Association of Outsourcing Professionals (IAOP). Learn more at www.nair-co.com