Regulation and levy update
The Long Service Corporation (LSC) is pleased to announce the release of the:
- Building and Construction Industry Long Service Payments Regulation 2022, and
- Contract Cleaning Industry (Portable Long Service Leave Scheme) Regulation 2022.
The new regulations came into effect on 1 September 2022.
Key changes: Building and construction industry
- Raise the levy exemption threshold from $25,000 to $250,000 from 1 January 2023.
- Reduce the levy rate from 0.35% to 0.25% of the cost of works from 1 January 2023.
- Introduction of the Penalty Infringement Notice (PIN) schedule.
The delay with raising the levy exemption threshold and reducing the levy rate was to allow enough time to inform LSC customers and make necessary system changes.
Key changes: Contract cleaning industry
- Introduction of the Penalty Infringement Notice (PIN) schedule.
Supporting customers with these changes
All LSC systems will reflect these changes to provide a seamless experience.
Our aim for introducing PINs is to provide LSC with modern tools for compliance and allow a more efficient way to resolve matters.
To support customers with this change, we will undertake a seven-month transition period for PINs. In this time, information and education will be provided, with more details on our website.
