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| Building and Construction Industry LSL Levy |
| On 1st July 2003 employers in the building and construction industry, will be required to pay a 1.5% levy on workers wages. |
Older employers in the building and construction industry might remember the Construction Industry Portable Long Service Leave Scheme, which was established in 1976 to provide paid long service leave to workers in Victoria?s construction industry. It changed names a couple of times and soon became grossly overfunded ? the performance of the investments and the contributions were in excess of needs.
Contributions ceased for some years, but now the fund has performed badly and contributions are to be reintroduced from 1st July 2003. The key requirement is that a worker be ?on the tools? to be entitled. Company directors must register and pay 1.5% of the working director?s ordinary wage if they complete work for the business for five days or more in a month.
Directors of a family company are regarded as employees requiring registration if they meet three of the following five tests:-
1. They are included in an employer sponsored superannuation fund.
2. WorkCover levy payments are paid on their behalf.
3. Fringe Benefits Tax is paid on their behalf.
4. They are included in an industry superannuation scheme.
5. They draw weekly wages.
We will investigate and provide further updates as we approach the start date.
Some examples of workers that are not covered are parquetry floor layers, irrigation installers, landscape gardeners, or any one who undertakes contract work on ships.
A fundamental issue is the coverage of the scheme to workers. This means that a leading hand or foreman, will receive a benefit, but the supervisor site manager or project manager cannot.
Genuine sub contractor payments are not included, with one of the rules being the responsibility for rectification. This is similar to the rule in the income tax legislation contained in personal services income tests.
One problem with the earlier scheme was that although some persons were required to pay contributions, (ie directors) they were never entitled to receive benefits.
19th-August-2003 |
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