Ready to go into world of work

ONCE the excitement of landing a first job has settled, it is time for young people to think about the practicalities of work.

Jobseekers entering the workforce in 2018 are urged to put serious thought into their finances and understand their rights.

The Fair Work Ombudsman stipulates workers are paid for all hours of work, including attending meetings at the employer’s request, the time spent opening and closing the business, attending training sessions, travelling during work hours for tasks which are associated with employment, and going to compulsory work functions.

An employer must pay 9.5 per cent of the value of a worker’s wage, not counting overtime, into their superannuation fund, if they earn more than $450 in a calendar month.

As workers cannot access their super until they are aged at least 60, young workers often do not give it a second thought.

But smart decisions in their early years can make a big difference to their final balance.

An employer will ask for a worker’s tax file number (TFN) – which can be applied for in person through Australia Post or Centrelink, or via post.

TFNs are needed when applying for government benefits or an Australian Business Number (ABN), or lodging a tax return.

Some costs associated with work can be used to offset tax.

To claim a work-related deduction, a worker must have spent the money themselves; the expense must be directly related to earning their income; and they must have a record to prove it.

Ashley Daykin (pictured) is a legal administration assistant at Daykin Family Law.

“My mum works in super so she has encouraged me to look into it,” she says.

“Young people need to be taught about super and keep on top of it.”