What is the definition of ‘remuneration’?
‘Remuneration’ means the aggregate amount of wages, salary, or other remuneration to be paid to your Workers.
Remuneration includes every payment made to or for the worker for their services, without deduction of income tax. It includes:
- all wages,
- allowances and the like,
- directors’ fees,
- superannuation contributions (except those made by force of law),
- fringe benefits,
- and all other benefits paid (whether paid in cash or non-cash benefits such as vehicles, equipment, mortgage payments, travel, school fees etc.)