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Tips for hiring entry-level employees

Hiring entry-level employees is a difficult yet unavoidable task for many employers.

Entry-level employees are often essential to fill junior positions in a business and can provide businesses with an opportunity to grow. However, hiring a person with lack of experience and professional referees can often be quite challenging. Here are three tips to consider when assessing entry-level candidates:

Create a clear picture
When creating a job description, it is important to have a clear image of an ideal candidate. Think of specific strengths, skills and traits the applicant must possess. Creating a profile for the ideal applicant not only helps you in the selection process but it also helps to prevent unsuitable or overqualified applicants from applying for the role.

Evaluate involvement outside education
Generally, entry-level candidates do not have a lot of prior professional experience within an industry and are often limited to university education. This lack of real-world experience means employers must find new ways of assessing compatibility. Instead of focusing on marks alone, look at a candidate’s extracurricular activities, volunteer work, leadership roles, awards and internships.

Think long-term
Entry-level candidates can turn into long-term employees if they are given the chance to develop their career. Ask applicants about their long-term career goals and explain ways in which they can achieve these goals through your business. Use examples of other staff members who have advanced their career through your business and make every effort to train employees to demonstrate your commitment to career advancement.

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Tax on super death benefits for dependants vs non-dependants

July 9, 2020

A super death benefit is the super paid after a person’s death, usually to a nominated beneficiary. These benefits are subject to different tax treatments, depending on whether the beneficiaries are dependant or non-dependant.

Superannuation death benefits will generally be received tax-free by tax dependants, who are considered to be:

Dependants will not have to pay tax on the tax-free component of their super in the event that they:

However, they will be taxed at their marginal rate if they receive a capped benefit income stream and:

Not all super death benefits are subject to tax; for non-dependants, there is a taxable portion. This component is largely made up of after-tax super contributions that the deceased member has made.

Super death benefit payments are subject to tax when:

Non-dependants must calculate how much money in the super account is a:

The amount of tax non-dependants pay will be based on their marginal tax rate, however, this amount may be reduced by tax offsets. For the taxed element of the taxable component, the effective tax rate is your marginal tax rate of 17% (whichever is lower). For the untaxed element of the taxable component, the effective tax rate is 32% or your marginal tax rate (whichever is lower).