Australia Staff Loans are available to CM contractors who are Australian resident. You may apply for a two year staff loan from your local employer, Charles Marcus Pty Ltd, to receive advances against future pay.
Requests made to cmhq@charlesmarcus.com are subject to availability of sufficient funds in CM Reserves. Transfers will be made to your bank account in Australia. Advances will be shown in the Staff Loans column of your CM Reserves report.
Repayments of staff loans can be made by CM Global dividends paid, with your agreement, direct to your local employer. ATO expects payment of interest and repayments of capital to be made during the term of the loan. This is intended to be a short-term loan facility with minimum interest payment.
Interest on the balance outstanding will be charged weekly to reserves at 8.27% pa to be above the benchmark interest rate at which the loan would create a fringe benefit. By requesting an advance you agree to the Ts&Cs in the Staff Loan Agreement which comply with the spirit and the letter of the ATO's FBT - a guide for employers.
Enquiries to cmhq@charlesmarcus.com
Requests made to cmhq@charlesmarcus.com are subject to availability of sufficient funds in CM Reserves. Transfers will be made to your bank account in Australia. Advances will be shown in the Staff Loans column of your CM Reserves report.
Repayments of staff loans can be made by CM Global dividends paid, with your agreement, direct to your local employer. ATO expects payment of interest and repayments of capital to be made during the term of the loan. This is intended to be a short-term loan facility with minimum interest payment.
Interest on the balance outstanding will be charged weekly to reserves at 8.27% pa to be above the benchmark interest rate at which the loan would create a fringe benefit. By requesting an advance you agree to the Ts&Cs in the Staff Loan Agreement which comply with the spirit and the letter of the ATO's FBT - a guide for employers.
Enquiries to cmhq@charlesmarcus.com