Effective People contractors are paid on a fortnightly basis. Effective People will ensure you are paid on time, every time on the Friday of your pay schedule.
Effective People contractors are paid superannuation monthly, one month in arrears.
Salary packaging is a smart, easy way to restructure your income, giving you a number of cash-saving benefits. This is an Australian Tax Office-approved arrangement that benefits both employers and employees, providing a popular solution for making the most out of your income.
Under a salary packaging agreement, you can purchase items such as a car, a laptop or a mobile phone out of your pre-tax pay, instead of after tax. This means you can get a better deal on the item you want, lower your taxable income so you pay less tax, and end up with more money in the bank to play with.
Salary Packaging Examples:
- BankIT – hours worked to be paid whilst on leave or in-between contracts
- Work related items, e.g. mobile phone, laptop, tablets
- Professional memberships and subscriptions
- Study costs
- Airline lounge memberships
Effective People’s BankIT account creates a safety net of income and financial security when you are on leave or between contracts.
Advantages of BankIT include:
- Peace of mind knowing you have access to cash if your contract is suddenly cut short.
- Allows you to manage your pay agreement to best meet your cash flow needs.
With Effective People’s unique BankIT arrangement you may have hours banked until you choose to have them paid out. Any hours banked are shown on your payslip in a box named BankIT and when you have them paid out they show as BankIT hours being paid, so the account is always easily reconciled.
To take advantage of BankIT simply let us know how many hours you would like to have banked when you send in your timesheet. You can also have it set up as a continuous arrangement, such as please bank any hours over 35 for each week.
When you want to have your BankIT hours paid, simply let us know how many hours you would like paid by emailing firstname.lastname@example.org and it will show on your payslip as paid BankIT hours.