In this article, Bryan Wilcox, CEO of the Real Estate Employers’ Federation, explains how the Minimum Income Threshold Amount (the MITA) must be applied against the performance of a salesperson engaged on a commission-only arrangement, both prior to, and during employment. The MITA is a performance-based income target that, under the Real Estate Industry Award
As an employer in Australia, few tasks are as crucial as correctly managing payroll. Employee payroll entitlements include salaries/wages, commissions/bonuses, allowances and other financial entitlements such as superannuation, loadings, overtime or penalty rates and the accrual and taking of leave. Paying employees their correct entitlements is not only essential but also a legal requirement. In
If you are intending to close your agency doors – even for as little as a few days – and require employees to take annual leave, then it’s time to start planning.
Each year REEF makes an application to the Australian Tax Office seeking a variation so that REEF members can pay their employees the relevant award-based motor vehicle allowance without having to deduct PAYG withholding tax.
The compulsory employer superannuation rate will increase from the current 11% to 11.5% on 1 July 2024. This means from 1 July 2024 employers will be required to make superannuation contributions on behalf of employees at the rate of 11.5% of the employee’s “ordinary time earnings”.
REEF Committee of Management Casual Vacancy Election Results
Minimum Award Rates of Pay to increase by 3.75% on 1 July 2024.
REEF’s new Rates of Pay Booklet is now available for REEF members.
REEF’s success is in no small part due to the commitment and guidance of the Committee of Management who give their time on a voluntary basis. Due to a recent resignation, there is currently 1 casual vacancy.
Important changes have been made to our industry’s principal award – the Real Estate Industry Award 2020 (the “Award”). The changes detailed in this notice were recently announced by the Fair Work Commission (FWC) and have now taken effect.
