Legislative Update for PeopleSoft HCM Global Payroll Australia
By Carolyn Cozart on Dec 19, 2013
Changes to Child Support Protected Earnings Amount (PEA)
The Australian Government Department of Human Services has set a minimum amount that must remain in a person’s wage after tax and child support has been deducted. This amount is termed as Protected Earnings Amount (PEA). The PEA is reviewed each year and adjusted on 1 January to allow for increases in the cost of living. For the year 2014, the PEA from 1 January is set to $339.23. This is the amount that must be set aside for your employee/contractor after tax and Child Support is deducted. In order to ensure compliance with this legislative initiative Oracle has updated the position statement that is made available on My Oracle Support, Document ID 1532030.1.