The following tables disclose the remuneration of Finance’s executives and other highly paid staff for the relevant reporting period. The disclosures are at an aggregate level, within dollar ranges (or bands) and indicate the number of employees within each band.
Table A: Remuneration paid to executives during the reporting period
|
Total remuneration |
Executives |
Average |
Average |
Average Allowances |
Average |
|---|---|---|---|---|---|
| $200,000 and less | 21 | 89,900 | 14,178 | - | 104,078 |
| $200,001 to $225,000 | 14 | 189,423 | 26,955 | - | 216,379 |
| $225,001 to $250,000 | 23 | 203,864 | 33,064 | - | 236,928 |
| $250,001 to $275,000 | 10 | 223,529 | 37,486 | - | 261,015 |
| $275,001 to $300,000 | 6 | 258,042 | 30,917 | - | 288,960 |
| $300,001 to $325,000 | 8 | 269,507 | 41,686 | - | 311,193 |
| $325,001 to $350,000 | 2 | 289,190 | 50,896 | - | 340,085 |
| $425,001 to $450,000 | 1 | 375,304 | 64,431 | - | 439,735 |
| $450,001 to $475,000 | 2 | 402,705 | 58,581 | - | 461,286 |
| $775,001 to $800,000 | 1 | 697,215 | 99,076 | - | 796,291 |
| Total number of executives | 88 |
Table A includes all substantive senior executives who received remuneration during the reporting period, including those engaged on part-time arrangements and those who were engaged by Finance for part of the year. Therefore, more than one individual may have filled a single position over the course of the year.
31 July 2018
Table A: Key Requirements/definitions
The 'Average reportable salary' column is prepared on a cash basis using reportable salary defined as the sum of:
- gross payments (excluding bonuses);
- reportable fringe benefits (net amount);
- reportable employer superannuation contributions, and
- exempt foreign employment income
as reported in an individual's payment summary.
The 'Average contributed superannuation' column is prepared on a cash basis using contributed superannuation as defined as follows:
- For individuals that are in a defined contribution scheme (e.g. PSSap), 'contributed superannuation' should include the defined contribution amounts. The amount is typically located on the individual's payslips; or
- For individuals that are in a defined benefit scheme (e.g. PSS and CSS), 'contributed superannuation' should include the Notional Employer Contribution Rate (NECR) amount, Employer Productivity Superannuation Contribution (also known as the Productivity Component) and any Additional Lump Sum Contribution paid during the financial reporting period
Table B: Remuneration paid to highly paid staff during the reporting period
|
Total remuneration |
Highly |
Average |
Average |
Average Allowance |
Average |
|---|---|---|---|---|---|
| $200,001 to $225,000 | 3 | 172,998 | 35,149 | - | 208,147 |
| Total number of highly paid staff | 3 |
Table B: Key Requirements/definitions
The 'Average reportable salary' column is prepared on a cash basis using reportable salary defined as the sum of:
- gross payments (excluding bonuses);
- reportable fringe benefits (net amount);
- reportable employer superannuation contributions, and
- exempt foreign employment income
as reported in an individual's payment summary.
The 'Average contributed superannuation' column is prepared on a cash basis using contributed superannuation as defined as follows:
- For individuals that are in a defined contribution scheme (e.g. PSSap), 'contributed superannuation' should include the defined contribution amounts. The amount is typically located on the individual's payslips; or
- For individuals that are in a defined benefit scheme (e.g. PSS and CSS), 'contributed superannuation' should include the Notional Employer Contribution Rate (NECR) amount, Employer Productivity Superannuation Contribution (also known as the Productivity Component) and any Additional Lump Sum Contribution paid during the financial reporting period.
