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ISSUE 10 \\\ NOVEMBER 2020
A year of ebb and flow
We’re sure you’ll agree that 2019–20 was an unforgettable year. We hope you and your team have fared well despite the lingering swell of COVID-19.
The Coal LSL ship navigated exponential growth in clients and team resourcing to meet the increased servicing needs amid operational pivoting for a pandemic that hit us all out of left field.
We were satisfied to end the year as we started with $1.8B funds under management when it could have been worse given the global market damage COVID-19 has caused to date.
Remarkably, we ended the stormy year with 971 registered employers, with our team processing close to 100% more registrations this year compared to 2018–19. This number reached 1,000 registered employers soon after the end of the financial year (EOFY) in September. While registration is a legal obligation for employers of eligible employees in black coal mining, this increase is also an indication of the scheme’s recognised value to the industry: supporting skills retention and providing valuable assistance in instances of redundancy, ill health or incapacity. Consequently, growth in active eligible employees reached 53,230 by EOFY.
The Fund closed the year managing 55 million hours of leave for 125,115 eligible employees. Our highlights, and lowlights, are available online now in our 2019–20 annual report.
Civil penalty unit rate change
A new civil penalty unit rate is in place, effective 1 July 2020. Find out what this means for employers.
Is GST applicable to levies?
An occasional enquiry is whether GST is applicable to levy payments. In brief, GST is not applied because levies are neither goods nor services. See our FAQ for more detail. When you click on the link below, scroll down to the Employer FAQ section to locate it.
Do employees accrue leave during industrial action?
Ever wondered how leave accrual is impacted when an employee participates in industrial action?
What matters to employees?
Understanding what’s important to employees can help improve efficiencies in administering their long service leave. Here are a few of the latest topics of interest.
Merry Christmas!
We wish you and your team a rejuvenating holiday season, especially after the whopper of a year we’ve all had.
Our office is closed from 12 noon on Thursday 24 December, reopening for business as usual at 8:30am on Monday 4 January.
There are no changes to Levy Advice form submission and payment dates; they are still required on 28 December for November hours.
Leave applications must be submitted by Friday 18 December. Applications received after 18 December will not be processed until after Monday 4 January.
Diary dates
Important dates for your diary:
- Levy advice and payment for November are due on or before 28 December.
The form and helpful guide are available on our website under Levy Reporting.
- Annual audit report for 2019–20 is due within six months of the end of the financial year.
Support materials, including new FAQs to support you in this important task, are available on our website under Legal Obligations.
Website: coallsl.com.au
Phone: 1300 852 625
General enquiries: query@coallsl.com.au
Office hours: Monday to Friday from 8:30am-5:00pm (AEST)
Mail: Coal LSL, Locked Bag 2021, Newcastle NSW 2300
ABN: 12 039 670 644
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