Contractor Newsletter | April 2016

“You don’t know what you don’t know”

Learn what the best are doing from those that taught them

Our panel of Certified Financial Planners, Tax and Property experts will walk you through real case studies, strategies and action plans that our most successful clients have implemented to build wealth and achieve their lifestyle goals.

  • You might feel you’re working hard, you might enjoy success in your professional life – but how does this translate to results in your financial life?
  • Do you have the perfect plan that reflects where you’d like you and your family to be in the long term?
  • Would you like to understand the proven, practical ways to create more with less?

Join our seminar to understand some of the key strategies adopted by successful Australians to achieve their goals.

These events are very popular and will fill fast.  CXC Global will be covering the full cost of your ticket.

Book your seat today and remember to invite your family and friends!

To register for Brisbane

Venue: The Odeon Room @
Sofitel Brisbane,
249 Turbot St,
Brisbane, QLD

Tuesday 12 April 2016
6pm – 7:30pm

To register for Melbourne

Venue: Swanston Room @
Rydges on Swanston
701 Swanston Street,
Melbourne VIC

Tuesday 19 April 2016
6pm – 7:30pm

To register for Sydney

Venue: Level 16,
363 George Street,
Sydney, NSWTuesday 3 May 2016
6pm – 7:30pm

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ANZAC Day: CXC Global Closure

Monday 25 April 2016 is ANZAC Day, and is a public holiday across Australia and New Zealand. All CXC Global offices will be closed on this day.

How will this affect you?anzac day

Best that you check with your agency or client to see if timesheet deadlines or pay dates will change because of this public holiday.


If your timesheet(s) are due on Monday 25 April, we suggest you submit your approved timesheets be submitted beforehand on Friday 22 April or immediately following the public holiday on Tuesday 26 April, if you don’t hear otherwise.

Pay Transfers

We’ll be reconciling and releasing all funds received prior to the public holiday on Friday 22 April, for overnight release.

Please note: The next date payments will be processed will be on Tuesday 26 April. So best you get your timesheets in priior to the public holiday, if possible.

If you have any questions please contact our Contractor Care team on 1300 724 082 or

So in summary…don’t forget to make arrangements to accommodate your timesheet & pay cycle that could be affected by the ANZAC Day closure.

Enjoy the day off!

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ATO Key Rates and Thresholds for 2016-17

nest egg

The ATO has released their key rates and thresholds for 2016-17, including the maximum superannuation contribution base, superannuation contribution caps and genuine redundancy and early retirement scheme payment limits.

What does this mean?

Maximum Superannuation Contribution Base is used to determine the maximum limit which an employer must pay Superannuation (at 9.50%) on any individual employee’s earnings base for each quarter of any financial year. Your employer does not have an obligation to make additional superannuation contributions for earnings above this limit.

Income year Per quarter
2016-17 $51,620.00
2015-16 $50,810.00
2014–15 $49,430.00

Superannuation Contribution Caps
are broken down into concessional and non-concessional contributions. Whilst they are unchanged for the 2016/17FY, CXC Financial Partners have provided some detail around the current figures for your future reference:

Concessional contributions include:

  • employer contributions (including contributions made under a salary sacrifice arrangement)
  • personal contributions claimed as a tax deduction by a self-employed person
  • if you have more than one fund, all concessional contributions made to all of your funds are added together and counted towards the concessional contributions cap.

Non-Concessional contributions are made up of personal contributions from post-tax monies (i.e. a contribution where no tax deduction is being claimed, and money is contributed from personal savings).

Income year Age and applicable Cap amount Treatment of excess contributions
2016-17 <49: $30,000 49+: $35,000 Included as taxable income, taxed at marginal tax rate plus an excess concessional contributions charge
2016-17 <65: $180,000 p.a.
<65: $540,000*
65+: $180,000 if gainfully employed during the FY* If a member’s non-concessional contributions exceed the cap, from 1 July 2014 a tax of 47% is levied on the excess contributions. Individual members are personally liable for this tax and must have their super fund release an amount of money equal to the tax.

Genuine redundancy and early retirement scheme payment limits.*if you wish to contribute under these circumstances, we suggest that you seek personal advice from a qualified professional. CXC Financial Partners are happy to assist you with any superannuation queries.

Genuine redundancy and early retirement scheme payments you receive are tax free up to a limit based on your years of service with your employer. The tax-free limit is determined by:

  • Base amount + (service amount x years of service)

These amounts are indexed each year, with the 2016/17 limits outlined below:

Genuine redundancy and early retirement scheme payment limits
Income year Base limit For each complete year of service
2016-17 $9,936.00 $4,969.00
2015-16 $9,780.00 $4,891.00
2014–15 $9,514.00 $4,758.00

If you’d like any further information please don’t hesitate to contact CXC Financial Partners on 1300 925 081 and they will be happy to help you.

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corporate_ladderA New Approach to Climbing the Corporate Ladder

Think back 5 years ago. What was your idea of climbing the corporate ladder? I highly doubt the notion of contracting your way to the top, was the first to enter your mind. Yet today, in 2016, contracting offers go-getting individuals an opportunity to path their own career in the direction they want…to the top!

Freelancing is no longer simply a means to earn a pay cheque whilst in between jobs. It’s now a chosen way to make a career.  According to a study conducted by independent research firm Edelman Berland, 57% of the 1,000 Australian freelancers they surveyed, choose to get into freelancing over permanent employment. This choice was primarily driven by the freedom and flexibility contracting offers.

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Orange_segmentsSegmentation of the On-Demand Workforce

A report published early this year by Intuit Inc, found that on-demand workers can be segmented into five groups based on their drivers for entering the on-demand workforce and levels of satisfaction.

The report surveyed 4,622 workers in the US, working for 11 different on-demand economy and online talent marketplace companies.

Here’s a break-down of why different workers are attracted to on-demand work and how they can be pigeonholed into groups based on their motivations and level of fulfillment.

Do you fit any of these groups?


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gender diverity

The Promise of Diversity


“A key challenge for all nations as they strive for increased productivity and a higher standard of living is to harness the full potential of their entire citizenry. In this context, one of the most recognised and acknowledged gaps is in relation to gender. Essentially, we need to encourage greater participation by females in our workforce.”

A long standing partner of ours, the Australian Computer Society, is committed to establishing a more gender equal ICT workforce and has released ‘The Promise of Diversity’ report providing an overview of the common challenges we face in gender diversity in the tech sector.

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