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.
πŸ“
Statutory
β˜‘οΈ
Market Standard
🌟
Great

Holidays

πŸ“
Statutory

Not applicable

20 paid holidays

8 National public holidays

  • local holidays
πŸ‘
Competitive
πŸ‘
Above & Beyond

30 days

8 National public holidays

  • local holidays

Flexible Working

πŸ“
Statutory

Not applicable

πŸ‘
Competitive

Negotiable

πŸ‘
Above & Beyond

Flexible hours

Work abroad for a time

Sick Leave

πŸ“
Statutory

Not applicable

10 paid days for individual or caring responsibilities

πŸ‘
Competitive

15 days paid

πŸ‘
Above & Beyond

20 days for individual and caring responsibilities

Paternity Pay

πŸ“
Statutory

Not applicable

5 unpaid days

πŸ‘
Competitive

2 weeks at national minimum wage

πŸ‘
Above & Beyond

6 weeks at full salary

Maternity Pay

πŸ“
Statutory

Not applicable

12 months unpaid

πŸ‘
Competitive

The PLP scheme:

18 weeks pay at the national minimum wage

πŸ‘
Above & Beyond

18 weeks at full salary

Additional time off/half pay

Other

πŸ“
Statutory

Not applicable

State payroll tax ranging from 4.85% to 5.5%

Relevant regional contributions

πŸ‘
Competitive

Study leave

πŸ‘
Above & Beyond

Volunteering days

Mental health days

Paid study leave

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

Question mark
Core benefits - Β traditional employer-paid benefits products e.g., insurances (health/life) and pension with core coverage
πŸ“
Statutory
β˜‘οΈ
Market Standard
🌟
Great

Medical

πŸ“
Statutory

Not applicable

Public health services

πŸ‘
Competitive

Private healthcare

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

(comprehensive)

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

(comprehensive)

πŸ‘
Above & Beyond

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

Travel Insurance

Other Health

πŸ“
Statutory

Not applicable

Basic dental and vision covered by public health

πŸ‘
Competitive

Private dental and vision plan

πŸ‘
Above & Beyond

Comprehensive medical plan

Pension

πŸ“
Statutory

Not applicable

Required employer contribution 10%

Employer Choice or Group Superannuation

πŸ‘
Competitive

Selected provider plan

πŸ‘
Above & Beyond

Market leading Super Fund with high levels of flexible insurance

Life Insurance

πŸ“
Statutory

Not applicable

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

πŸ‘
Competitive

Private plan: 3x basic salary

πŸ‘
Above & Beyond

Private plan: 4x basic salary

Income Protection

πŸ“
Statutory

Not applicable

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

πŸ‘
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

πŸ‘
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
πŸ“
Statutory
β˜‘οΈ
Market Standard
🌟
Great

Wellbeing

πŸ“
Statutory

Not applicable

πŸ‘
Competitive

EAP or Mental health stipend

Gym or health club memberships or discounts

πŸ‘
Above & Beyond

Pool membership

Social Sports club membership

Sports equipment loan

Learning and Development

πŸ“
Statutory

Not applicable

πŸ‘
Competitive

$500-1000 for further education, conferences and books

πŸ‘
Above & Beyond

Unlimited budget for work related training

Working from Home

πŸ“
Statutory

Not applicable

πŸ‘
Competitive
πŸ‘
Above & Beyond

WFH allowance

New technology

Salary Sacrifice & Other

πŸ“
Statutory

Not applicable

πŸ‘
Competitive

Additional employee pension contribution

Charitable donation matching

πŸ‘
Above & Beyond

Company car

Fuel allowance

Childcare stipend or allowance

Relocation budget

Employee stock options

Food & Drink

πŸ“
Statutory

Not applicable

πŸ‘
Competitive

In office snacks and beverages

Weekly happy hours/socials

πŸ‘
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.
πŸ“
Tax Reporting
πŸ‘©β€πŸ’Ό
Employer Tax
πŸ‘«
‍Employee Tax
No items found.
Question mark
Core benefits - Β traditional employer-paid benefits products e.g., insurances (health/life) and pension with core coverage
πŸ“
Tax Reporting
πŸ‘©β€πŸ’Ό
Employer Tax
πŸ‘«
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
πŸ“
Tax Reporting
πŸ‘©β€πŸ’Ό
Employer Tax
πŸ‘«
Employee Tax

Wellbeing

πŸ“
Statutory
πŸ‘©β€πŸ’Ό
Employer Tax
πŸ‘«
Employee Tax

Learning and Development

πŸ“
Statutory
πŸ‘©β€πŸ’Ό
Employer Tax
πŸ‘«
Employee Tax

Working from Home

πŸ“
Statutory
πŸ‘©β€πŸ’Ό
Employer Tax
πŸ‘«
Employee Tax

Salary Sacrifice & Other

πŸ“
Statutory
πŸ‘©β€πŸ’Ό
Employer Tax
πŸ‘«
Employee Tax

Food & Drink

πŸ“
Statutory
πŸ‘©β€πŸ’Ό
Employer Tax
πŸ‘«
Employee Tax

Join teams around the world getting
90%+ engagement
with their benefits programmes.

By clicking Get started you're confirming that you agree with our Terms and Conditions.
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.