Employee benefits & policies in Australia

With so many employee benefits options in Australia, how do you choose the right benefits for your team?

Ben character at his computer

Employee benefits & policies in Australia

We’ve done the heavy lifting for you and created a handy guide to employee benefits in the Australia.

To help you choose the perfect package for your team, we’ve outlined what counts as a:

  • statutory requirement
  • standard benefit
  • great benefit
Question mark
Benefits policies - company policies that involve employee benefits e.g., holidays, flexible working, maternity/paternity, etc.
📝
Statutory
☑️
Market Standard
🌟
Great

Holidays

📝
Statutory

Not applicable

20 paid holidays

8 National public holidays

  • local holidays
👏
Competitive
👏
Above & Beyond

30 days

8 National public holidays

  • local holidays

Flexible Working

📝
Statutory

Not applicable

👏
Competitive

Negotiable

👏
Above & Beyond

Flexible hours

Work abroad for a time

Sick Leave

📝
Statutory

Not applicable

10 paid days for individual or caring responsibilities

👏
Competitive

15 days paid

👏
Above & Beyond

20 days for individual and caring responsibilities

Paternity Pay

📝
Statutory

Not applicable

5 unpaid days

👏
Competitive

2 weeks at national minimum wage

👏
Above & Beyond

6 weeks at full salary

Maternity Pay

📝
Statutory

Not applicable

12 months unpaid

👏
Competitive

The PLP scheme:

18 weeks pay at the national minimum wage

👏
Above & Beyond

18 weeks at full salary

Additional time off/half pay

Other

📝
Statutory

Not applicable

State payroll tax ranging from 4.85% to 5.5%

Relevant regional contributions

👏
Competitive

Study leave

👏
Above & Beyond

Volunteering days

Mental health days

Paid study leave

Ad-hoc bonus days taking a break and charging (Kitkat)

Question mark
Core benefits -  traditional employer-paid benefits products e.g., insurances (health/life) and pension with core coverage
📝
Statutory
☑️
Market Standard
🌟
Great

Medical

📝
Statutory

Not applicable

Public health services

👏
Competitive

Private healthcare

Single cover from $1,300 (basic) to $4,000

(comprehensive)

Family cover from $2,700 (basic) to $9,200

(comprehensive)

👏
Above & Beyond

Private plan: All staff and dependants covered at employer’s expense

Travel Insurance

Other Health

📝
Statutory

Not applicable

Basic dental and vision covered by public health

👏
Competitive

Private dental and vision plan

👏
Above & Beyond

Comprehensive medical plan

Pension

📝
Statutory

Not applicable

Required employer contribution 10%

Employer Choice or Group Superannuation

👏
Competitive

Selected provider plan

👏
Above & Beyond

Market leading Super Fund with high levels of flexible insurance

Life Insurance

📝
Statutory

Not applicable

Minimal covered by Superannuation plan - premiums are typically around 0.5% to 0.8% of salary

👏
Competitive

Private plan: 3x basic salary

👏
Above & Beyond

Private plan: 4x basic salary

Income Protection

📝
Statutory

Not applicable

Minimal covered by Superannuation plan Private plan: premiums are typically around 0.5% to 0.8% of salary

👏
Competitive

75% of salary plus 10% of the superannuation benefit

2 or 5 year benefit period

Premium costs are typically between 0.8% and 1.2%

of payroll

👏
Above & Beyond

75% salary plus 10% superannuation benefit with a 90-day wait and payment to age 65

Question mark
Supplemental benefits - contemporary benefits to give your benefits package an edge e.g., flex allowances & salary sacrifice options
📝
Statutory
☑️
Market Standard
🌟
Great

Wellbeing

📝
Statutory

Not applicable

👏
Competitive

EAP or Mental health stipend

Gym or health club memberships or discounts

👏
Above & Beyond

Pool membership

Social Sports club membership

Sports equipment loan

Learning and Development

📝
Statutory

Not applicable

👏
Competitive

$500-1000 for further education, conferences and books

👏
Above & Beyond

Unlimited budget for work related training

Working from Home

📝
Statutory

Not applicable

👏
Competitive
👏
Above & Beyond

WFH allowance

New technology

Salary Sacrifice & Other

📝
Statutory

Not applicable

👏
Competitive

Additional employee pension contribution

Charitable donation matching

👏
Above & Beyond

Company car

Fuel allowance

Childcare stipend or allowance

Relocation budget

Employee stock options

Food & Drink

📝
Statutory

Not applicable

👏
Competitive

In office snacks and beverages

Weekly happy hours/socials

👏
Above & Beyond

Meal expenses covered

Free breakfast/lunch

What are the tax implications of employee benefits & policies in Australia

Tax is a tricky one - especially with a global team to manage. Our tax guide simplifies the tax implications of various employee benefits in Australia for you.

We’ve narrowed down how employee benefits affect:

  • Tax reporting
  • Employer tax
  • Employee tax
Question mark
Benefits policies - company policies that involve employee benefits e.g., holidays, flexible working, maternity/paternity, etc.
📝
Tax Reporting
👩‍💼
Employer Tax
👫
‍Employee Tax
No items found.
Question mark
Core benefits -  traditional employer-paid benefits products e.g., insurances (health/life) and pension with core coverage
📝
Tax Reporting
👩‍💼
Employer Tax
👫
Employee Tax
No items found.
Question mark
Supplemental benefits - contemporary benefits to give your benefits package an edge e.g., flex allowances & salary sacrifice options
📝
Tax Reporting
👩‍💼
Employer Tax
👫
Employee Tax
No items found.

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