Human Resources Unit
To assist in the processing of payments made under these guidelines, HRIS 024 form has been created in consultation with Divisional Finance Accountants. The form is available on the Human Resources website under 'HR Forms'.
The ATO have advised that Research Consultancy and Profit Share Payments are not considered part of ordinary time earnings, and therefore payment will not attract an employer superannuation contribution (i.e. SGC 9% or Award 3%). Accordingly, employees will not be given the option to make contributions to their superannuation fund on this payment.
Revenue SA have advised that Research Consultancy and Profit Share Payments are subject to payroll tax in SA. Accordingly payroll tax will be charged to the relevant cost centre.
The HR Unit will provide an annual report to the Senior Management Group of payments received by staff members. A separate payment code on the Payroll System has been created to identify payments made.
A Finance item code 0412 has been created on the Finance One system to enable Divisions to identify the total dollar value of all Research Consultancy and Profit Share payments made to staff over a set period of time.
